Jabong has more than 1,500 brands, sports labels, Indian ethnic and designer labels and over 150,000 styles from over a thousand sellers
Flipkart-owned online fashion retailer Myntra has announced the acquisition of Jabong from Global Fashion Group with an aim to create India’s biggest fashion shopping destination.
Founded in 2012, Jabong is a Rocket Internet-backed fashion e-commerce company headquartered in Delhi.
The German incubator has been attempting to sell Jabong for the past few months.
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The combined entity will be able to serve over a 15 million monthly active users and offer the best of brands to Indian consumers, as per a statement.
Jabong is among India’s major fashion multi-brand e-store with more than 1,500 on-trend international high-street brands, sports labels, Indian ethnic and designer labels and over 150,000 styles from over a thousand sellers. Some of the most iconic global brands that will be exclusive to both the platforms include Dorothy Perkins, Topshop, Tom Tailor, G Star Raw, Bugatti Shoes, The North Face, Forever 21, Swarovski, Timberland and Lacoste.
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Binny Bansal, CEO and Co-founder, Flipkart, said, “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.”
According to Ananth Narayanan, CEO, Myntra: “Jabong has built a strong brand that is synonymous with fashion, a loyal customer base and a unique selection with exclusive global brands. 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. We look forward to working with the talented Jabong team to shape the future of fashion and lifestyle e-commerce in India.”
Based out of Bangalore, Myntra is India’s leading platform for fashion brands. Myntra has partnered with over 2,000 leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia, Biba.
Myntra services over 19,000 pin codes across the country. Started in 2007, Myntra was acquired by Flipkart for US$350 million in 2014.
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