Myntra, a Flipkart Group company, has announced the acquisition of Jabong, for an undisclosed amount, from Global Fashion Group.
Post the acquisition, Myntra will have access to "a combined base of 15 million monthly active users" as per the press release on the development.
Some of the brands that will be "exclusive to both platforms" include Dorothy Perkins, Topshop, Tom Tailor, G-Star RAW, Bugatti Shoes, The North Face, Forever 21, Swarovski, Timberland and Lacoste.
Binny Bansal, CEO and co-founder, Flipkart, says, "'Fashion and lifestyle' is one of the biggest drivers of e-commerce growth in India. We have always believed in this segment and Myntra's strong performance has reinforced this faith. This acquisition is a continuation of the group's journey to transform commerce in India. I am happy that we will now be able to offer to millions of customers a wide variety of styles, products and a broad assortment of global as well as Indian brands."
Ananth Narayanan, CEO, Myntra, says, "Jabong has built a strong brand that is synonymous with fashion, a loyal customer base and a unique selection with exclusive global brands. 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. We look forward to working with the talented Jabong team to shape the future of fashion and lifestyle e-commerce in India."
Fashion and lifestyle brands that Myntra has partnered with include Nike, Adidas, Puma, Levi's, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia, and Biba.