New Delhi, April 26 -- Open an online fashion app today, and you'll find a Rs.490,000 Gucci dress or a waitlisted Rs.415,000 Prada leather shirt sitting alongside discounted streetwear and mass-market labels.

This paradox isn't accidental. India's online fashion and beauty market is projected to reach $210 billion by 2028. Yet even as it scales, the discount-led model that powered this growth is under strain. In response, platforms such as TataCliq, Myntra, Ajio, Amazon's fashion and beauty division, and Nykaa are trying to shed their deals-driven identity-albeit gradually.

TataCliq, for instance, has partnered with online luxury retailer Darveys to create a more deliberate, curated approach to luxury rather than a broad rollout. Myntra...