Flipkart Ltd has acquired online fashion portal Jabong

Flipkart Ltd has acquired online fashion portal Jabong through its unit Myntra in a move to maintain its position as the market leader on 26 July 2016. However, the financial details of the deal were not revealed.

This acquisition will strengthen Flipkart Group's position in Fashion and Lifestyle segment to compete with Amazon Fashion in India.

Jabong: Jabong was founded in 2012. In September 2014, its investor Rocket Internet merged Jabong with four online fashion retailers in Latin America, Russia, the Middle East, South-east Asia to create Global Fashion Group (GFG).