Flipkart acquires Myntra for 2000 Crores

The popular Indian based e-Commerce website, Flipkart recently acquired the e-Fashion Retail Store, Myntra. Flipkart started in 2007, with selling books online but has recently emerged as a giant online retail store for various electronic and household items. The only area Flipkart lacked was ‘Fashion’.

“It is a 100% acquisition and going forward, we have big plans in this segment. Flipkart and Myntra are getting together to create one of the largest e-commerce stories and together we will dominate the market,” said Flipkart co-founder and CEO, Sachin Bansal.

With this move, one can easily conclude that Flipkart wants to be the leaders in every segment, be it Electronic Devices, Healthcare Products or Apparels.

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Myntra will continue to operate as a separate entity, but Myntra’s CEO, Mukesh Bansal will join the Flipkart board and will lead the Fashion sector for the e-Commerce.

“It was very essential to keep Myntra a separate entity and preserve its culture. I’m here for the long haul and we will continue to grow in the market,” said Mukesh Bansal.

It’ll be great to see the duo fighting with international competitors like Amazon and shall be offering the best deals to its customers to attract the majority of the population.

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