Myntra wins the tug-of-war, acquires Jabong

A long list of contenders have been weighing their chances for a very long time to finally lay their hands on Jabong. However, Snapdeal and Kishore Biyani's Future Group have emerged as the final contenders for buying online fashion retailer Jabong at a valuation which is much less than the original asking price. 

But finally in a turn of events Flipkart's unit Myntra, has acquired Jabong from Global Fashion Group to become India's biggest fashion shopping destination.
This was indeed a surprise owing to the last update of Snapdeal staying ahead in the race. But with this acquisition Flipkart  will strengthen it's position and as an unit will compete with Amazon Fashion in India in the Fashion and Lifestyle segment.

Ananth Narayanan, CEO, Myntra spoke about the acquisition and happily announced that this is a natural step in their journey to be India's largest fashion platform. There is a good synergy between the two platforms especially in terms of brand relationships and consumer experience.

While Binny Bansal, CEO and Co-Founder of Flipkart mentioned how over time Fashion and lifestyle has become one of the biggest drivers of ecommerce growth in India. Citing from this promiscuous ground he mentioned that this acquisition and the birth of a big group will transform the e commerce scenario in India.

With this, acquisition many global brands that were exclusive to both the platforms will now be available with more ease.

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