Flipkart Acquires Myntra To Dominate Fashion Industry

How to save money and time? This is the question which is asked quite often by everyone to themselves. So here comes the best answer to this. Do shopping online through various e-commerce sites. These websites gives you best deal with maximum discounts and on the top of it you can get all the brands at one place only. You just have to go through them while sitting at home and select the best that suits you. Online shopping has become the latest trend among youngsters as they buy each and every thing like fashion trendy wear, footwear, cosmetics etc. online. One of such site which offers such discounts is Myntra.com. You can find wide range of fashion clothing, footwear and life style products here.

flipkart acquires MyntraNow this company has been acquired by Flipkart. They both have merged together to combat all the competition in the online shopping. There had been murmurs about Flipkart-Myntra merger since January but the news was not finalized. But now it is confirmed. Both the companies have signed the deal in approximately Rs. 2000 Crores. The deal amount was not disclosed but the close source has confirmed it. This merge will surely bring a storm in the online shopping field. They surely have some big plans in their court. Together they will dominate the industry for sure and is going to create one of the largest e-commerce stories of the world.

Both Myntra and Flipkart are Bangalore-based companies. They will prove themselves as leaders in each and every segment of the fashion industry. This partnership will lead to huge investments in the future to capture the whole market. Flipkart Co-founder and CEO Sachin Bansal told they will be investing about Rs.600 Crore in the near future in fashion business.

Both Myntra and Flipkart was started in the year 2007. Flipkart started as online bookstore. But later on they start selling fashion apparels, clothings, electronics etc. Now, home decor products are also available in Flipkart. Myntra on the other hand, always lead the market with its discounted fashion clothings with supreme quality.

This collaboration of Flipkart with Myntra is going to strength the portfolio of Flipkart and now it will be more efficient in competing with some of the pioneers of online e-commerce sites like Amazon and snapdeal. Myntra will continue to keep as a special entity and grow as previously. It is an important step in order to preserve its entity.