Flipkart buys Jabong from Rocket Internet

Flipkart buys Jabong from Rocket Internet

Indian e-commerce player Flipkart has bought online fashion retailer Jabong from Rocket Internet for $70m. The acquisition was completed through Flipkart’s own fashion arm, Myntra.

Ananth Narayanan, the CEO of Myntra, commented: “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.”

The $70m price tag is an interesting sign of the times. According to reports, up until about a year ago Amazon had been interested in Jabong – and figures between $700m and $1bn were bandied around in the local media.

Flipkart co-founder Sachin Bansal tweeted earlier today (26 July) that Jabong and Flipkart will “make history together”.

The timing of the Flipkart/Jabong deal has not been ideal. India’s e-commerce news agenda today has been rather dominated by the launch of Amazon Prime across 100 Indian cities.

 

Relevant Directory Listings

Listing image

PasarEx

PasarEx is a Colombian company that provides international express transportation services for air cargo, packages and documents, and last mile services for electronic commerce platforms. PasarEx is positioned in the logistics market in Colombia due to its rapid response and personalized attention and the use […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What’s the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This