E-commerce

Myntra’s FY23 filings cap dismal year for the fashion retailer

Pranav Balakrishnan

January 05, 2024 | 4 Min Read

A year to forget for Myntra

2023 was something of a banner year for the Flipkart group of companies—at least in terms of good press.

PhonePe’s flip from Singapore back to India created a tax windfall of $1 billion for the Indian government. Flipkart’s $700 million ESOP payout, meanwhile, generated wealth for tens of thousands of former and current employees, even creating millionaires. Cleartrip, bought for pennies during the pandemic, has seen its fortunes skyrocket amid a travel and tourism resurgence.

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