×
250
Fashion Jobs
LUPIN
Opportunity For Area Manager - Mass Marketing - Lupin Ltd
Permanent · Pune
SOBHA
Manager - Sales at Sobha Nesara, Kothrud - Pune
Permanent · Pune
MIDAS HYGIENE INDUSTRIES PRIVATE LIMITED
Area Sales Manager - Punjab
Permanent · Jalandhar
PETPOOJA
Area Sales Manager || Software Sales (Pos) || Petpooja
Permanent · Navi Mumbai
FLEETX
Assistant Area Sales Manager/ Area Sales Manager
Permanent · Haldia
FLEETX
Area Sales Manager
Permanent · Tirunelveli
MINIVEL SERVICES
Area Sales Manager - Insurance Company
Permanent · Bengaluru
POLYCAB
Area Sales Manager
Permanent · Chennai
ACME SERVICES PRIVATE LIMITED
Purchase Manager For a Leading Textile Brand
Permanent · Mumbai
SBFC FINANCE
Area Sales Manager And Sales Manager- Loan Against Property
Permanent · Ahmedabad
BUSY INFOTECH
Area Sales Manager - Amritsar / Ambala / Shimla
Permanent · Ambala
GRAND CHEMICAL WORKS
Area Sales Manager- Lucknow (gt Fmcg)
Permanent · Lucknow
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur (gt)
Permanent · Kota
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
SURYA FOOD AGRO LTD
Production Manager
Permanent · Greater Noida
SHYAM STEEL INDUSTRIES
Require Area Sales Manager For Different Locations at Bihar
Permanent · Madhepura
PINKODE REALTY LLP
Hiring For Asm/Sales Managers
Permanent · Mumbai
FRQ BRO
Area Sales Manager - Oppo
Permanent · Pudukkottai
FLEETX
Area Sales Manager
Permanent · Tirunelveli
TEACHMINT
Area Business Manager
Permanent · Hubballi
MTC BUSINESS
Production Manager | Khopoli
Permanent · Khopoli
By
Reuters
Published
Jul 26, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

India's Flipkart buys Rocket Internet-backed online fashion store for $70 million

By
Reuters
Published
Jul 26, 2016

India's biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country's e-commerce sector as competition intensifies.

Flipkart unit Myntra, India's largest online fashion retailer which is buying Jabong, said on Tuesday the two sites will have a combined base of 15 million monthly active users. Global Fashion Group is backed by Germany's Rocket Internet  and Sweden's Kinnevik.



Niche e-commerce players in India are facing greater competition from both domestic rivals and the likes of Amazon.com Inc, at a time when industry valuations have begun to cool.

Rocket Internet had flagged earlier this year that business was tough in India, warranting more investment by Global Fashion Group.

The deal puts Myntra, which itself was bought by Flipkart for about $300 million last year, in a stronger position to take on Flipkart's biggest local rival Snapdeal and Amazon, which has pledged to invest over $5 billion in India to boost market share in the country.

Amazon's huge bet and tough competition have already prompted some small local players to consolidate. Privately held Indian conglomerate Future Group, which owns a string of fashion and retail assets, earlier in 2016 bought online furniture retailer FabFurnish.com.

The e-commerce fashion retail space in India has especially been attracting investment from not only established names such as Flipkart, Snapdeal and Amazon, but also from newer entrants like Reliance Industries (RELI.NS) - India's largest company, which outlined plans to roll out an e-commerce website in April.

India's e-commerce market is seen as having potential though, with annual sales of $36.7 billion expected by 2020, consultants KPMG said in report in November.

The Myntra and Jabong sites will exclusively offer international brands such as Top Shop, Dorothy Perkins, Forever 21, and Swarovski in India, Myntra said.

 

© Thomson Reuters 2022 All rights reserved.