One of the biggest Indian eCommerce brand Flipkart acquires Myntra, according to sources. Myntra is India’s biggest fashion retailer and this deal is going to give tough competition to recently launched Amazon India online store.
Ecommerce market in India is still in developing phase and there are many big players who performing well in this market. Amazon, Snapdeal, eBay are few of them who has great market share in Indian eCommerce market.
“It’s a 100 percent acquisition and going forward we have big plans in this segment,” said Sachin Bansal, co-founder of Bangalore-based Flipkart.
It’s been 7 years FlipKart launched their online book store and in these past few years it started acquiring some of the big brands in India. At present, flipkart has huge customer base in electronics, books, home & kitchen, fashion and many more categories.
According to you, what will be the impact of this acquisition in India eCommerce market?