Myntra acquires fashion e-store Jabong

Myntra acquires fashion e-store Jabong

Bengaluru, July 26 (IANS) Flipkart Group company Myntra on Tuesday announced its acquisition of e-store Jabong from Global Fashion Group, saying this gave Flipkart pole position in the sector catering to the country’s fashion and lifestyle segment.

“The acquisition of Jabong further strengthens Flipkart Group’s position as the undisputed leader in fashion and lifestyle segment in India,” the e-commerce platform said in a release here.

“Myntra and Jabong are all set to define the next generation of online shopping with a combined base of 15 million monthly active users and offering the best of brands to Indian consumers,” it added.

“This acquisition is a continuation of the group’s journey to transform commerce in India,” Flipkart co-founder Binny Bansal said in the statement.

Myntra acquires fashion e-store Jabong 

Bengaluru, July 26 (IANS) 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.

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