In one of the largest mergers in Indian e-commerce market, Flipkart-owned Myntra has acquired one of its main competitors Jabong.
With the acquisition of Rocket Internet’s Jabong for $70 million, Flipkart now has nearly over 50% of India’s fashion retail market.
The fashion and apparel section not only enjoys the highest gross margins globally but is also among the fastest-growing segment among all e-commerce businesses.
