Jabong secures loan from Yes Bank

 Flipkart-owned online fashion retailer Myntra, has secured a loan of Rs 199 crore from Yes Bank. The amount is part of a total credit facility of Rs 300 crore extended to Myntra entities by Yes Bank, reveal MCA documents. Myntra Jabong India is likely to use the money to meet its working capital requirements.


Flipkart holds a 70 per cent market share in Jabong, the online fashion segment. In other news, Mango launches offline store in Delhi in partnership with Myntra and plans to expand the store count to 25 across the country in the next five years.

Online firms are fast embracing the omni-channel strategy in a bid to improve their sales. Myntra, for example, also runs stores for its private label, Roadster which was launched in March in Bangalore. The next store is expected to open in Mumbai at Phoenix Mall.

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