Selling on Myntra vs Nykaa vs Ajio in 2026 — Which Marketplace Pays Best?

The three giants of Indian fashion ecommerce

Myntra is the largest by GMV (~₹35,000 crore in 2025). Nykaa Fashion is fastest-growing in premium. Ajio (Reliance) has the biggest catalog. For Indian D2C brands, the question isn't whether to be on these — it's where to invest your marketing budget first.

Take rate / commission

Myntra: 18–28% take rate by category. Nykaa Fashion: 22–35%. Ajio: 15–25%. Myntra is roughly 4–7 percentage points cheaper than Nykaa for the same SKU on similar GMV.

Payout cycle

Myntra pays T+7 (delivered + 7 days). Nykaa pays T+14. Ajio pays T+15–21. If cash flow is tight, Myntra wins. Bigger brands prefer Nykaa for higher AOV and premium positioning.

Return rates

Myntra: 28–35% RTO+returns (highest). Nykaa: 14–18% (premium buyer, less try-on returns). Ajio: 22–28%. RTO is the silent killer of D2C margins — every Myntra sale that comes back costs you ~₹120 in logistics + a re-stocking fee.

Conversion benchmarks

On the same listing, Myntra typically converts at 1.8–2.2%, Nykaa at 2.5–3.5%, Ajio at 1.2–1.6%. Premium and beauty brands should weight Nykaa. Mass-market apparel should weight Myntra.

Listing requirements (where they overlap)

All three accept the same product photos if shot at 2400×3200 white-background. All three want HSN + Country of Origin + Manufacturer + Packer. The Excel template is different on each — Myntra has its own 5-template system; Nykaa uses a CSV; Ajio uses an XLSX with brand-specific tabs. EcomCatalog AI exports to all three from one canonical SKU master so you maintain only one.

Our recommendation in 2026

Start with Myntra (highest GMV + cheapest commission). Add Nykaa once your AOV crosses ₹1,500. Add Ajio once you have 200+ SKUs (Ajio's algorithm rewards catalog depth).