Myntra vs Ajio vs Nykaa Fashion 2026: Where a New Brand Should Start

A new fashion brand in India has three curated marketplaces to choose from, and none of them publishes a rate card. Myntra, Ajio and Nykaa Fashion all onboard by application, agree commercial terms with a category team, ship on their own logistics, and take a commission plus per-order charges plus 18% GST. The differences are in who they let in, what the circulated fee sheets say, how returns are charged, what marketing they expect you to fund, and which shopper they put in front of your product. As of September 2026 this guide compares the three on those points, using the figures set out in our Myntra, Ajio and Nykaa fee guides, and ends with where a new brand should start.

Every percentage below is from press reports, seller-circulated fee sheets or agency guides, not from the platforms. Your onboarding agreement is the only binding source.

Myntra vs Ajio vs Nykaa Fashion at a glance

Which takes the smallest cut?

On paper Myntra, especially for a new brand. The Rising Stars programme announced in January 2026 offers 0% commission to new D2C brands for an undisclosed period, and Livemint reported 0% to 1% on select westernwear, sportswear and innerwear under Rs 500. Above those bands the standard rate is quoted at 17% to 25%, occasionally 30%. Ajio's circulated sheet sits at 23% on the Emerging Brand model, which is where most new labels land, and rises to 35% and 38% on the models where Ajio takes on merchandising and returns risk. Nykaa Fashion is quoted highest, 25% to 35%, and adds 18% GST on the commission, so a 25% rate takes 29.5% of the price before the input credit comes back.

The per-order charges change the ranking for cheap items. Ajio's flat Rs 95 forward charge is 19% of a Rs 499 top and 4% of a Rs 2,499 jacket, which is why calculators built on that sheet recommend listing at Rs 599 to Rs 799 or above. Myntra's forward logistics of Rs 55 to Rs 120 by weight and zone plus a Rs 15 to Rs 35 fixed fee lands in a similar place on a mid-priced item but scales with weight rather than sitting flat. Nykaa's Rs 40 to Rs 80 logistics is the lowest reported, but its commission is the highest.

All three land within Rs 40 of each other on a kept order. The differences that decide profit are the return rate and the price point, not the headline commission.

Which is hardest on returns?

Fashion returns of 25% to 35% are normal on all three, and each platform charges reverse logistics on a customer return while reversing the commission. Ajio's Rs 75 per unit reverse charge, on top of the Rs 95 already paid forward, makes a returned Rs 999 kurta cost about Rs 200 including GST; our fee guide's four-order model at a 25% return rate takes the average net per unit shipped from Rs 610 to about Rs 407. Myntra's returned-order case in our example runs to a negative Rs 195 settlement (fixed fee, forward and reverse logistics, GST), and a 30% return rate takes the average to roughly Rs 394 per unit shipped. Nykaa's reverse charge is not published; assume it mirrors the forward fee. Nykaa's advantage is a lower return rate on beauty and, brand teams report, on beauty-adjacent fashion bought by its repeat customers, though that is not a published figure.

The RTO and return arithmetic is the same lesson on all three: size charts in centimetres, model measurements, honest colour names and a tight assortment do more for margin than a two-point commission cut. Ajio's Seller Protection Fund, with a three-day claim window for damaged returns, is worth building a routine around.

What marketing does each expect you to fund?

Myntra is the most explicit. Every new seller pays a Growth Enablement Charge of Rs 15,000 or Rs 25,000, netted off the first payouts and returned as ad credits worth double, valid six months. It is prepaid advertising, not a fee, but it is cash out of your first settlements. After that, product listing ads run on CPC with no published rates. Nykaa sells sponsored products, brand pages and display through ads.nykaa.com, billed with 18% GST; the D2C Acquisition Lab model plans 10% of the selling price for marketing on a Rs 699 item. Ajio's marketing is mostly participation in its sale events and brand-funded discounts, negotiated per event, with no separate ad console at the scale of Myntra's.

Who gets accepted, and how long does it take?

All three are curated. Myntra's Partner Portal takes applications from brands with a GSTIN, a trademark or brand authorisation and the ability to pack in Myntra-approved paper packaging with 4x6 inch barcode labels; it is the most open of the three and the most process-heavy, and our how to sell on Myntra guide covers the steps. Ajio onboards through seller.ajio.com onto the JIT model (stock shipped to an Ajio warehouse, quality-checked, then dispatched) or Dropship (Ajio's courier picks from your warehouse); see how to sell on Ajio. Nykaa is the most selective, with an invitation-style process and a category team that decides after approval whether you sell on the marketplace or inventory model; see how to sell on Nykaa. Beauty brands should note that most Nykaa beauty runs on the inventory model, where Nykaa buys at a margin and the commission figures above do not apply.

Which shopper does each put you in front of?

None of the three publishes seller-facing audience numbers, so this is the qualitative part. Myntra is the volume fashion destination, strong across price bands and categories, with the biggest sale events in Indian fashion (End of Reason Sale, see our EORS entry) and the deepest ad tooling. Ajio, backed by Reliance Retail, skews to western wear, its own and licensed international brands, and premium under Ajio Luxe, and its flat logistics charge structurally favours higher-priced items. Nykaa Fashion sells to Nykaa's beauty customer, largely urban women with a higher average basket, which suits premium, designer and beauty-adjacent fashion more than value basics.

Verdict: where should a new brand start?

Most fashion brands we manage end up on Myntra and Ajio within a year and on Nykaa Fashion only where the price point and the customer fit. The order above is about cash: Myntra's Growth Enablement Charge and D+15 cycle, Ajio's onboarding-set payout and Nykaa's up-to-45-day inventory terms each tie up a different amount of working capital, and a new brand should carry one of those at a time.

FAQ

Which is cheapest: Myntra, Ajio or Nykaa? On a kept Rs 999 order the worked examples land within about Rs 40 of each other. Myntra's 0% bands and Rising Stars programme make it cheapest for a qualifying new brand; Ajio's flat Rs 95 charge makes it cheapest for items above about Rs 1,500; Nykaa is the highest on commission.

Do any of them publish a rate card? No. Myntra, Ajio and Nykaa all set rates at onboarding. Every figure in this guide is from press, seller-circulated sheets or agency guides.

Can a new brand get 0% commission on Myntra? Myntra announced a 0% commission programme for new D2C brands in January 2026 (Rising Stars) for an undisclosed period, and 0% to 1% on select items under Rs 500. Eligibility is decided by Myntra.

Is there an upfront fee on any of them? Myntra's Growth Enablement Charge of Rs 15,000 or Rs 25,000 is netted off payouts and returned as ad credits worth double. Ajio and Nykaa state no upfront charge.

Which pays fastest? Myntra publishes D+15 from delivery, settled three times a week. Ajio sets the cycle at onboarding. Nykaa reports range from 7 to 14 days on the marketplace model to 30 to 45 days on the inventory model.

Can I sell on all three at once? Yes, and most established brands do. The constraint is working capital and return handling, not the platforms' rules; exclusivity is negotiated only for specific launches.

Getting the first fashion marketplace right

Myntra, Ajio and Nykaa Fashion cost about the same on a kept order and very different amounts once returns, prepaid marketing and payout cycles are modelled. If you want a team that negotiates the commission slab with your assortment in front of it, builds the catalogue to each platform's spec, runs the ads and reconciles every settlement, see our Myntra account management service and our fashion and beauty marketplace service for Ajio and Nykaa. The audit starts with your return rate, because on these three that is where the margin is; book it through the Myntra service page.