#Flipkart buys online shopping portal #Jabong for $70 million in an all cash deal pic.twitter.com/SzBBOJU6zv— Press Release Watch (@PrReleaseWatch) July 26, 2016
“Fashion (esp. women’s fashion) is a top category on e-commerce platforms in terms of transaction volume and growth, and also one of the most competitive due to lots of brands and manufacturers. The acquisition of fashion platforms is a move for Flipkart to not only further penetrate into the red-hot category but also maintain its leadership position in the market and keep Amazon at bay. We expect major players to keep acquiring niche and smaller players to expand into more product categories, demographics and geographies, and add new functionalities to their offerings,” said Sandy Shen, Research Director at Gartner commenting on the deal.
