Brands
Myntra Beauty’s Virtual Try on feature drives adoption for leading brands enables 2X jump in conversions
Mumbai: Myntra continues to record strong demand within the Beauty and Personal Care (BPC) sector, as beauty enthusiasts flank the platform for its assortment of leading homegrown and international brands, compelling value offers and its seamless tech-first end-to-end shopping journey. Riding on this strong demand, the platform has enhanced its Virtual Try-On feature, an offering that leverages Augmented Reality (AR) and Virtual Reality (VR) to personalize and improve the end-to-end shopping journey on the platform, enabling customers to discover and purchase the perfect shade across makeup categories. The feature on Myntra Beauty has enabled a 1.5X jump in consideration and 2X jump in conversion on the Makeup category styles using this feature on the platform.
The Virtual Try-On feature has now also been extended to Makeup categories like lipstick, blush, eyeliner, eyeshadow, mascara, foundation, Contour, highlighter, and concealers, among others. The cutting-edge feature, working with ModiFace, an enterprise that solves for Augmented Reality (AR) technology in the beauty industry, has 11 Makeup brands live on Myntra with over 3000 styles, which include the likes of Lakme, Maybelline, M.A.C, L’Oreal Paris, NYX Professional Makeup, SUGAR, Faces Canada, Colorbar, among others. Lipsticks and Foundations were the most virtually tried products on Myntra Beauty. Technology also plays an imperative role in Myntra’s Beauty charter to enhance the overall experience with compelling features such as the Assisted selling tools like the AI Skin Analyzer (Skin and Hair) and Product Finder to truly simplify and personalize the shopping journey.
With a catalogue of a diverse range of more than 90000 SKUs across more than 1500 sought-after brands, Myntra’s BPC portfolio also includes more than 200 international brands, catering specifically to existing and emerging consumer needs and niches. Some of the popular brands on the platform include NYX Professional Makeup, Victoria’s Secret, Makeup Revolution London, Armani, Bath and Body Works, L’Oreal Paris, Lakme, Maybelline New York, Shiseido, Forest Essentials, M.A.C, and Phillips, among others.
Leading brands across the world continue to choose Myntra Beauty as the partner of choice to foray into the Indian market, with the likes of NYX Professional Makeup, Barry M, Jeffree Star Cosmetics, Caudalie, Etude, Benefit Cosmetics, Freeman, Paco Rabbane, Juice Beauty, Carolina Herrera, and Neal’s Yard Remedies having already impactfully reached Indian consumers via cohesive associations with the platform. Some of the recently on boarded brands include Victoria’s Secret, Farmacy, Olaplex, Sebastian Professional, among others. With D2C brands steadily gaining mindshare with beauty aficionados, Myntra Beauty has also enabled new age consumer brands in their growth journey, with brands like Plum, Foxtale, Villain, Minimalist, Renee, Arata, Sunscoop, Chemist at play, The Derma Co., MyGlamm, MARS and Re’equil, growing upwards of 80 per cent YoY on Myntra Beauty.
Over the last year, Myntra Beauty has also witnessed a notable surge in men’s beauty and personal care purchases, particularly in self-skincare, acne and pimple care, hair removal spray, ingredients-led products like serum, face wash, and body wash, as well as foundation and concealer, with sheet masks for hydration and glowing skin also gaining popularity. Through the year, Myntra Beauty witnessed a 200 per cent YoY growth in men buying skincare products. As one of the few shopping destinations that has a healthy rate of fashion-forward, metrosexual male shoppers that flank the platform, Myntra observed men’s grooming trends such as a focus on hair removal and personal hygiene, a growing interest in skin minimalism, and an increasing popularity of DIY face masks, among others.
Myntra Beauty has witnessed a 4X growth in selection in the last three years, with the platform constantly looking to strengthen its position as one of the go-to destinations for beauty, skincare, and personal care in the country, encouraging customers to ‘find their own beauty’. Emerging as one of the key players in India’s burgeoning beauty market, Myntra Beauty grew a whopping 3X of the market in 2023, with a high repeat rate on the platform.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
