Two platforms, different buyers, different price points, same brand movement at the top and the bottom.
Mars gained 4.74 percentage points of Nykaa's makeup orders, reaching 17.79%. On Myntra it gained 1.95 points, reaching 10.36%. Lakmé lost 2.27 points on Nykaa, falling to 7.63%. On Myntra it lost 6.87 points, the single largest brand decline on either platform, falling to 10.60% from a starting position of 17.46%.
36.1
Lakmé's Myntra collapse is worth sitting with on its own. It was the largest makeup brand on Myntra in Q2 2025, at nearly a fifth of all makeup orders. It is still the largest brand a year later, but the margin has closed sharply. Maybelline also lost ground on Myntra, down 2.09 points, and Swiss Beauty fell 3.03. Three of the platform's four biggest incumbent brands moved the same direction in the same quarter.
Nykaa's biggest single mover is not Mars. It is Bobbi Brown, up 6.07 points from a base of 0.11%, now holding 6.18% of Nykaa's makeup orders. That number appeared in last week's post on Nykaa's overall brand share, where Bobbi Brown was flagged as the sharpest move on the entire platform. Makeup is where nearly all of it happened.
36.2
Basket size moved in the same direction on both platforms despite the incumbent losses. Myntra's makeup AOV rose from INR 1,477 to INR 1,618, up 9.5%. Nykaa's average makeup item price rose from INR 452 to INR 485, up 7.3%. Two platforms losing their largest mass-market brands and gaining a prestige name and a value name at the same time, and both ending up with a larger average transaction.
For a makeup brand, the read differs by where you sit. If you compete with Lakmé, Maybelline or Swiss Beauty, the incumbent tier that defined this category through 2024 is shrinking on both major platforms in the same quarter, and nothing in the mid-tier has stepped in to fully replace it. If you compete with Mars or sit in Bobbi Brown's price band, the data says this is the moment either end of the market is working.
Tags: Beauty · Makeup · Nykaa · Myntra · Brand share · Q2 2026 · Consumer panel data
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