Quick Take
- New Leader: Sharon Pais — former Chief Business Officer at Myntra + former Head of Flipkart Fashion; Flipkart group veteran since 2013
- Replacing: Nandita Sinha — CEO since 2022, 13 years with Flipkart Group; moves to advisory role for next few months
- Reports To: Kalyan Krishnamurthy, Group CEO, Flipkart — effective April 13, 2026
- Mandate: Scale M-Now (30-60 min fashion delivery) across 10+ cities; sustain profitability; drive pre-IPO growth
- What She Inherits: Rs 6,043 Cr FY25 revenue (+18% YoY); Rs 548 Cr PAT (18x jump YoY); India’s #1 fashion e-commerce platform
- Also Changed: Kapil Thirani (8+ yrs Flipkart) to head Flipkart Fashion; successor search for Marketplace underway
Myntra, the Flipkart-owned fashion and lifestyle e-commerce platform and the only profitable business in the Walmart-backed Flipkart Group, appointed Sharon Pais as its new head effective April 13, 2026 — replacing Nandita Sinha, who exits after 13 years with the Flipkart Group, including four years as Myntra’s CEO. Pais, a two-decade consumer industry veteran and former Myntra Chief Business Officer, takes charge at a pivotal moment as the company bets on M-Now — its 30-to-60-minute fashion quick commerce service — to sustain its profitability momentum ahead of Flipkart’s anticipated IPO.
In an internal note to the company, Flipkart Group CEO Kalyan Krishnamurthy said: “Sharon Pais will lead Myntra and report to me, effective immediately. She has worked closely with the team over the years and understands the business well. Nandita will continue to support the business in an advisory role over the next few months to ensure continuity, including on key initiatives.”
StartupFeed Insight
- What the numbers say: Myntra’s 18-fold profit jump to Rs 548 Cr in FY25 on 18% revenue growth is exceptional margin expansion — achieved primarily through premium repositioning, tighter discounting, and inventory discipline under Sinha. Pais inherits a lean, profitable engine. Her mandate is not to fix it — it is to scale it without breaking what Sinha built.
- If you’re a founder: M-Now’s thesis — ‘immediacy for premium fashion driven by occasions and social moments’ — is exactly the right insight. Fashion is impulse-driven. 30-minute delivery for a dinner outfit or gifting occasion is a fundamentally different use case than 2-day apparel delivery. Pais is doubling down on a category truth.
- If you’re an investor: Myntra’s profitability makes it the crown jewel of Flipkart’s IPO story. Any degradation of its margins under M-Now expansion (which carries dark store capex) is the key risk. Watch whether FY26 margins hold or compress as M-Now scales.
- If you’re an employee: Pais is an insider who rose through Myntra and Flipkart Fashion. This is continuity, not disruption. Significant hiring is expected in M-Now operations, city expansion, and brand partnerships across Tier-1 and Tier-2 markets.
- Our prediction: M-Now will reach 25 cities by March 2027 and contribute 8-12% of Myntra’s gross order value by H1 FY27. Myntra’s FY26 revenue will cross Rs 7,200 Cr and PAT will hold above Rs 400 Cr despite M-Now investment — preserving the IPO narrative.
Profile: Sharon Pais — The New Myntra Head
| Aspect | Details |
| New Role | Head / CEO, Myntra — effective April 13, 2026 |
| Reports To | Kalyan Krishnamurthy, Group CEO, Flipkart |
| Flipkart Group Tenure | Since 2013 — 13+ years across multiple verticals |
| Most Recent Role | SVP & Business Unit Head, Flipkart Fashion (from November 2025) |
| Previous Myntra Role | Chief Business Officer (CBO), Myntra (2018-2020) — her first Myntra stint |
| Key Flipkart Verticals Led | Fashion, Books, Home, General Merchandise, Women’s Apparel, Loyalty, Travel |
| Pre-Flipkart | ~6 years at Procter & Gamble — set up modern trade operations in Tamil Nadu, managed Mumbai distributor networks, led Olay skincare brand |
| Key Initiatives She Led | Myntra Rising Stars (emerging brand platform), M-Now (quick commerce launch), category expansion into Beauty, Home & Personal Care |
| Education | Not publicly disclosed |
| Leadership Style | Operator-first; deep category expertise; known for building cross-functional teams across fashion and marketplace businesses |
Pais said of her strategic priority: “We are scaling M-Now to meet changing customer expectations. They are looking for ‘immediacy’ in premium fashion and beauty, often driven by specific occasions or topical social moments.”
What Nandita Sinha Built — The Legacy She Leaves Behind
| Metric | When Sinha Took Over (FY22) | At Exit (FY25) | Change |
| Revenue | Rs 2,466 Cr | Rs 6,043 Cr | +145% over 3 years |
| Net Profit / Loss | Rs -425 Cr (loss) | Rs +548 Cr (profit) | Rs 973 Cr swing to profit |
| FY24 Profit (first profitable year) | — | Rs 30 Cr PAT | First ever profitable year |
| FY25 Profit | — | Rs 548 Cr PAT | 18x jump YoY |
| Quick Commerce | Not launched | M-Now: 10 cities, 10,000+ SKUs, 2x daily order growth | New growth vertical launched |
| Beauty Category | Nascent | Myntra Beauty — scaled significantly | Key revenue diversifier |
| Geographic Expansion | India-focused | Expanded to Singapore | International first step |
| Market Position | #1 fashion e-commerce (India) | #1 fashion e-commerce (India) | Maintained leadership |
Sinha said on her exit: “Serving Myntra has been a rewarding journey, and I’m grateful for the opportunity to build alongside an exceptional team and ecosystem. I wish the team continued success in the years ahead.”
M-Now — The Quick Commerce Bet That Defines Pais’s Tenure
Launched in November 2024, M-Now is Myntra’s answer to the quick commerce revolution — designed specifically for fashion, beauty, and lifestyle. The service promises delivery within 30 minutes to 2 hours, beginning in Bengaluru before expanding to Delhi-NCR and Mumbai in mid-2025.
| M-Now Parameter | Current Status (Apr 2026) |
| Delivery Promise | 30 minutes to 2 hours |
| Cities Active | 10+ cities (Bengaluru, Delhi-NCR, Mumbai + others) |
| SKU Count | 10,000+ products at launch; scaled toward 1 lakh styles |
| Categories | Fashion, beauty, accessories, home |
| Growth | 2x jump in daily orders in the last quarter (to launch) |
| Key Use Cases | Gifting, occasion wear, last-minute fashion needs, topical social moments |
| Sample Brands Available | Vero Moda, MANGO, Tommy Hilfiger, Levi’s, ONLY, Dyson, Armani Exchange, Fossil |
| Differentiation vs Q-Commerce peers | Premium and branded fashion focus; not mass-market grocery-style speed |
| M-Express (separate service) | Same/next day delivery across 600 cities — continues to run alongside M-Now |
M-Now’s insight is sharp: fashion quick commerce is not about cheap basics — it is about eliminating the decision anxiety of ‘will it arrive in time?’ for occasions that matter. Pais’s direct ownership of this insight, having led its expansion into Delhi-NCR and Mumbai as CBO, positions her well to accelerate it.
The Flipkart Group Leadership Reshuffle — Full Picture
| Role | Before | After (Apr 13, 2026) |
| Myntra Head / CEO | Nandita Sinha | Sharon Pais |
| Flipkart Fashion Head | Sharon Pais (since Nov 2025) | Kapil Thirani (8+ yrs Flipkart; was VP Shopsy & Marketplace) |
| Flipkart Marketplace Head | Kapil Thirani | Successor search initiated |
| Myntra / Flipkart CFO | Abhishek Gupta (exited earlier in 2026) | Kannan Ganesan (replacement) |
| Flipkart Group CFO | Sriram Venkatraman (resigned March 2026) | Successor TBD |
| Flipkart Group CEO | Kalyan Krishnamurthy | Unchanged — Krishnamurthy continues |
The reshuffle signals Flipkart’s deliberate alignment of its softlines businesses — Myntra and Flipkart Fashion — under tighter coordination ahead of its IPO. Krishnamurthy’s internal note specifically noted the goal of ensuring ‘all our softline businesses are aligned together.’
Myntra Financial Context — What Pais Inherits
| Metric | FY22 | FY24 | FY25 | Growth FY22-FY25 |
| Revenue | Rs 2,466 Cr | Rs 5,121 Cr (est.) | Rs 6,043 Cr | +145% |
| Net Profit / Loss | Rs -425 Cr | Rs +30 Cr | Rs +548 Cr | From loss to Rs 548 Cr profit |
| Revenue Growth YoY | — | — | +18% | Consistent double-digit growth |
| Market Share | #1 India fashion e-commerce | #1 | #1 | Sustained leadership |
| Flipkart Group Losses | — | — | Rs 1,494 Cr (cut 37% YoY) | Myntra only profitable unit |
| Online Fashion Market (India) | $21 Bn (est.) | — | Myntra + Flipkart Fashion ~50% | Near-duopoly position |
Myntra is not just Flipkart’s most profitable unit — it is Flipkart’s primary IPO narrative asset. Its consistent profitability, brand strength, and M-Now growth story give bankers a clean, compelling story to pitch to institutional investors.
Who Should Be Watching
| Player | Why This Matters |
| AJIO (Reliance Retail) | Reliance’s fashion play is Myntra’s most serious long-term challenger. Pais’s premium positioning and M-Now speed play must outpace AJIO’s improving private label and branded catalogue depth. |
| Nykaa Fashion | Nykaa has built a loyal premium beauty + fashion audience. Myntra Beauty + M-Now beauty delivery creates a direct overlap. Pais has explicitly been expanding beauty — this is a head-on battle. |
| Slikk / Zepto Fashion | Fashion-native quick commerce startups like Slikk are the existential threat to M-Now’s differentiation. If Zepto or others launch premium fashion Q-commerce, M-Now’s first-mover advantage window narrows rapidly. |
| Amazon Fashion | Amazon’s pan-India reach and Prime delivery infrastructure make it a durable competitor, but Myntra’s brand partnerships and fashion-native UX continue to be its moat. Pais’s CBO background in category building is directly relevant here. |
| Meesho | Meesho’s value-fashion dominance is not Myntra’s territory — but as Meesho moves upmarket and Myntra moves toward M-Now’s speed premium, the Rs 500-1,500 price point becomes a contested battleground. |
What’s Next
Pais’s immediate priorities are clear: stabilise the M-Now expansion without compressing Myntra’s hard-won profit margins; deepen the beauty and lifestyle categories that Sinha seeded; and build the IPO-friendly narrative of a platform that is profitable, growing, and differentiated.
The strategic tension she must navigate: M-Now requires dark store investment, rider networks, and brand exclusives that carry real capex. If M-Now’s economics deteriorate before achieving scale, Myntra’s FY26 PAT could compress — precisely the wrong signal ahead of a Flipkart IPO that relies heavily on Myntra’s profitability as its crown jewel.
Flipkart is targeting a public listing between late 2026 and 2027, having shifted its holding company from Singapore to India. Pais has, at most, 12-18 months to demonstrate M-Now’s unit economics and sustain Myntra’s profitability — before bankers begin the IPO roadshow.
Can she pull off what Sinha built, and then some? Tell us @StartupFeed_official
