Etailer Flipkart has bought rival Indian fashion etailer Jabong for an undisclosed amount.
Binny Bansal, CEO and co-Founder of Flipkart said: “Fashion and lifestyle is one of the biggest drivers of ecommerce growth in India. We have always believed in the fashion and lifestyle segment and Myntra’s strong performance has reinforced this faith.”
Ananth Narayanan, CEO of Myntra added: “The acquisition of Jabong is a natural step in our journey to be India’s largest fashion platform. We see significant synergies between the two companies, especially on brand relationships and consumer experience.”