Jabong Gets Acquired

 Flipkart has acquired yet another fashion e-tailer, Jabong, from Global Fashion Group for $70 Mn. Flipkart, which had earlier acquired Myntra in 2014, has made a significant mark in consolidating the e-commerce market in India. With this acquisition, Flipkart now stands to attract 15 million combined active users.

Current Scenario

With e-tailers like Myntra and Jabong under its wings, Flipkart’s position as the industry leader in fashion and lifestyle solidifies in India. Right now it has an arsenal of over 1,500 domestic and international brands in categories across fashion, appliances, electronics, home and furniture. There are over a thousand sellers who have tied up with Flipkart till date.

Founder’s Vision

According to Flipkart CEO and Co-founder, Binny Bansal, fashion and lifestyle are two leading categories in e-commerce today. Myntra has done exceptionally well in these two segments. It is believed that the market for fashion and lifestyle will only grow further. Since Flipkart is working towards becoming India’s # 1 fashion platform, acquiring Jabong seems like a good decision.

Myntra CEO, Ananth Narayanan, sees this acquisition with Flipkart as a worthy arrangement. Both the platforms have good brand relationships and customer experience. This collaboration will lead to shaping up the future of fashion and lifestyle e-commerce in India.

What do you think of this acquisition? Share your thoughts in the comments section below.

Takeaways:

• Flipkart has acquired yet another fashion e-tailer, Jabong, from Global Fashion Group.
• Flipkart, which had earlier acquired Myntra in 2014, has made a significant mark in consolidating the e-commerce market in India.
• Flipkart now stands to attract 15 million combined active users.
• With this, Flipkart’s position as the industry leader in fashion and lifestyle solidifies in India.

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