India: Amazon is negotiating Jabong acquisition

Friday 17 October 2014 13:45 CET | News

Amazon is currently in talks to buy Indian online fashion retailer Jabong, a fashion e-tailer, reports.

Moreover, a regulatory filing by Rocket Internet, which concerned Jabong, has boosted the value of the fashion portal at EUR 388 million.

In September 2014, Jeff Bezos, the founder of Amazon, has informed that the value of goods sold by Amazon India in a year had topped USD 1 billion and that fashion was one of the fastest growing categories.

According to industry estimates, cited by the source, the Flipkart-Myntra union has a market share of over 50% in fashion retail and Jabong 25%. Fashionara and Limeroad are the other significant fashion portals.Fashion accounts for 25% of the online retail industrys sales, according to the retail consultancy Technopak.

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Keywords: India, Amazon, Jabong, marketplace, e-tailer, online sales, retailer, merchant, customer, purchase, fashion
Categories: Payments & Commerce
Countries: World
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