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From left: Sachin Bansal, Co founder & CEO, Flipkart, Mukesh Bansal, Co founder & CEO, Myntra and Binny Bansal, Co founder & COO, Flipkart at the announcement of the acquisition
 
 
India's biggest e-biz player, Flipkart, strengthens its position, acquiring fashion e-seller, Myntra

Bangalore, May 2014:  IT's official -- media speculation for over a week now,  has been proved  spot-on: two of India's  best known online retail brands , the broad spectrum seller, Flipkart and  the fashion and lifestyle specialist, Myntra  are now one, with Flipkart acquiring Myntra.
This has  made India's largest e-commerce company even bigger.
With a mission to bring high quality and affordable lifestyle products to Indian customers, Flipkart announced that it has joined hands with Myntra, India's leading e- commerce platform for fashion and lifestyle products. A rapidly growing company based in Bangalore, Myntra is a brand with strong relationships, having partnered with more than 650 leading fashion and lifestyle brands in the country.
Sachin Bansal and Binny Bansal, the co-founders of Flipkart, and Myntra’s founders, Mukesh Bansal and Ashutosh Lawania,  will now work together, with , Mukesh Bansal heading  the fashion business for Flipkart and joining  the Flipkart Board.  However brandwise, Flipkart and Myntra will continue to work as independent entities
“We believe that the future of fashion in India is e-commerce. We have known Mukesh for a long time and are delighted to partner with him. Myntra has a strong team with excellent domain knowledge. They also have the best relationships with lifestyle brands. This partnership will strengthen both our positions in the fashion space. We will continue to work as independent entities and grow together as leaders in the Indian fashion and lifestyle industry." said Sachin Bansal and Binny Bansal.
"We are excited to partner with the most powerful e-commerce brand in India  (which) has a very ambitious agenda to build the next generation of retail in India. Leveraging mutual strengths, we will build Myntra into India's leading fashion powerhouse and create many original fashion brands," said Mukesh Bansal.
Flipkart.com is India’s largest e-commerce platform offering over 15 million products across 70-plus  categories, with 18 million users, 3.5 daily sivits, 5 million shipments a month and 3000  registered sellers.




    


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