Flipkart's Myntra Acquires Fashion E-store Jabong

Posted: Jul 26 2016, 2:29am CDT | by , in News | Latest Business News

 

This story may contain affiliate links.

Flipkart's Myntra Acquires Fashion e-store Jabong
Credit: Jabong

Don't Miss: This How to find Fingerlings in Stock

Leading e-tailer Flipkart's fashion and lifestyle products' subsidiary Myntra on Tuesday announced its acquisition of e-store Jabong from London-based Global Fashion Group for an unspecified amount to strengthen its position in the segment.

Gurgaon-based Jabong is a major fashion multi-brand e-store with 1,500 global brands, sports labels, Indian ethnic and designer labels.

"Post-acquisition, Myntra and Jabong will have a combined base of 15 million monthly active users, offering best of brands to Indian consumers," Myntra said in a statement here.

Bengaluru-based Flipkart acquired Myntra in May 2014 for an estimated $300 million.

Besides apparel, Jabong also sells footwear, fashion and home accessories, beauty products and fragrances.

Both the e-commerce platforms will jointly hard-sell iconic global brands, including Dorothy Perkins, Topshop, Tom Tailor, G Star Raw, Bugatti Shoes, The North Face, Forever 21, Swarovski, Timberland and Lacoste.

"Jabong's acquisition is a continuation of the group's journey to transform commerce in India. We will offer a variety of styles, products and assortment of global and Indian brands," said Flipkart co-founder and chief executive Binny Bansal in the statement.

Holiday Gift Guides and Deals

Get your Holiday gifting inspired by Best Toy Gifts with High STEM Value and the Top 10 toy gifts under $10 if you are on budget. The most popular Holiday 2017 toy list include Fingerlings, Crate Creatures and more. Don't miss the new Holiday deals on Amazon Devices, including $29.99 Fire tablet.

This story may contain affiliate links.

This free App Solves You Holiday Shopping Problem


Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News

Comments

The Author

<a href="/latest_stories/all/all/59" rel="author">IANS</a>
The Indo-Asian News Service (IANS) was established in 1986, initially to serve as an information bridge between India and its thriving Diaspora in North America. Now IANS is a full-fledged wire agency, putting out news 24x7 from around the world.

 

 

Advertisement

comments powered by Disqus