Ecommerce provider Flipkart acquires Myntra

Thursday 22 May 2014 13:02 CET | News

India-based ecommerce provider Flipkart has acquired online fashion portal, and revealed plans to invest USD 100 million in the fashion business.

Financial terms of the deal have not been disclosed.

Myntra stocks products from more than 600 brands. It has a 41% share of India’s USD 291 million online apparel and footwear retailing market.

Founded in 2007, is a shopping portal which began by selling books but then expanded to other products.

In April 2014, Flipkart has launched a same-day delivery programme to be implemented across all categories in 10 cities.

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Keywords: Flipkart, Myntra, ecommerce, fashion portal
Categories: Payments & Commerce
Countries: World
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