Myntra CEO Says Jabong Buy Will Help Scale up E-Apparel Business

After the acquisition, Myntra will have access to a combined base of 15 million active users per month.

Flipkart-owned Myntra has bought rival Jabong for $ 70 million. (Photo: Myntra.com)

On Tuesday, fashion e-commerce site Myntra acquired Jabong from Global Fashion Group for $ 70 million. This will consolidate Myntra’s position in the booming Indian e-commerce industry.

Myntra, which was acquired by Flipkart in 2014 in an estimated Rs 2,000 crore deal, will have access to a combined base of 15 million monthly active users.

In an interview with Bloomberg Quint, Myntra’s CEO Ananth Narayanan explained the acquisition and what it will mean for Myntra.