Flipkart, India’s largest e-tailer, acquired one of the country’s biggest fashion portal Myntra on May 22nd for $330 million (Though the companies did not disclose the merger amount, analysts estimates suggest the cash-and-stock deal is likely more than $330 million).
Flipkart is currently India’s largest e-commerce platform offering over 15 million products, with over 18 million registered users and 3.5 million daily visitors. It has raised over $540 million since it launched in 2007. Myntra, on the other hand, receives over 50 million visits every month.
Myntra co-founder and chief executive Mukesh Bansal will head the fashion business of both Myntra and Flipkart, and Myntra will operate as an independent entity and retain its website, while Flipkart will continue selling apparel on its site.
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Greetings, dear readers! I am Rohini. As a proud contributor to the Worthview blog, I am excited to bring you insights into the realms of fashion, beauty, and health. Let’s embark on this adventure together, where my words become a bridge between my world and yours. I look forward to our shared journey of discovery and connection.
