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.
“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.
“Fashion and lifestyle is one of the biggest drivers of e-commerce growth in India. We have always believed in the fashion and lifestyle segment and Myntra’s strong performance has reinforced this faith. This acquisition is a continuation of the group’s journey to transform commerce in India. I am happy that we will now be able to offer to millions of customers a wide variety of styles, products and a broad assortment of global as well as Indian brands,” said Binny Bansal, CEO and Co-founder of Flipkart.