Ecommerce Website Flipkart Buys Myntra To Lead
India leading e-commerce website Flipkart acquired largest online fashion retailer Myntra.Both company officials confirmed this news.
Now Flipkart having the 100% shares in Myntra.Flipkart going to invest more $100million in Myntra for further developments.Looks like Flipkart investing overall competing Amazon and lead in Indian e-commerce online fashion.
Mukesh Bansal will continue as CEO for Myntra and continue to develop the fashion market operations.He joined as a board member of Flipkart.
Flipkart have 18 million of register users and Myntra have 50 million register users become largest register e-commerce retailers.
Flipkart acquire initiated in the month of April starts $300 million later transaction completed at $300 million Flipkart financail officials confirmed the news.
Now Flipkart is No.1 in fashion retailer.Flipkart is now No.1 competitor in Indian retailers snapdeal and Amazon.
Another e-commerce website Snapdeal raised $100 millions on 21st May and target to $22 billion market share in coming 5 years as Internet transactions and internet users are viral.
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