Flipkart acquires Jabong for $70 million to create India's biggest online fashion retailer

Indian e-commerce major Flipkart's online fashion retailer Myntra has acquired its smaller homegrown rival Jabong for $70 million in cash. The acquisition will strengthen Flipkart's fashion segment against Amazon, which has been doubling down on its investments in the country.

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Started by the Germany company Rocket Internet in 2012, Jabong was once a major player in India's online fashion retail industry. However, it had...

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