Flipkart has acquired Jabong

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Flipkart has acquired Jabong
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Myntra, owned by Flipkart, has acquired rival e-commerce portal Jabong from Global Fashion Group to become India's biggest fashion shopping destination.

With this acquisition, Flipkart Group's position in the Fashion and Lifestyle segment will be strengthened enough to give a tough competition to arch rival Amazon India.

"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," Myntra CEO Ananth Narayanan told ET. "We look forward to working with the talented Jabong team to shape the future of fashion and lifestyle ecommerce in India," he added.

It’s been long that talks of Jabong being up for acquisition were on, with companies like Future Group, Snapdeal, Abof etc bargaining to acquire it.

Also read: ​Jabong could be acquired by Snapdeal or Future Group, but at much less price
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