Flipkart acquires Myntra in India's largest e-commerce deal
Flipkart acquires Myntra in India's largest e-commerce deal, Flipkart acquires Myntra, online deal in India, Myntra is now Flipkart, aquisition deal, online dealing of the firm, news on ecommerce, ebay, amazon, flipkart and myntra
Myntra is one of the leading e-retailer on fashion category, and this acquisition makes the Flipkart leading on one more selling category.
"It is a 100% acquisition and going forward, we have big plans in this segment. Flipkart and Myntra are getting together to create one of the largest e-commerce stories and together we will dominate the market,""We, at Flipkart, believe that we want to be leaders in every segment and fashion is a category of the future, this acquisition will help us become leaders in this category," he added.
After the deal also, Mynta will own the separate brand with its co-founder and CEO Mukesh Bansal but with the Flipkart board heading the fashion business.
From last few year India's online market has been grew up with a huge ratio as more people log on to the Internet to shop. Indian online market is estimated to be worth about $3 billion currently, has firms such as Snapdeal, eBay and Amazon which follow the marketplace model.