Customer insight drives the online fashion retailer to launch 'mood' stores, rethink the way it sells its wares.
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
No financial details were disclosed.
From almost a thousand employees, 300 have exited the firm.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
Narayanan said while there would be some redundancies as a result of integration of the back-end functions of Myntra and Jabong, it will, however, be less than 10 per cent of the overall headcount
The agreement means consumers will enjoy more choices and varied price points.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
The Kerala commercial taxes department has slapped a fine of Rs 53.63 crore (Rs 536.3 million) on four online trading companies including Flipkart and Jabong for allegedly doing illegal business in the state.
Nets three more foreign brands for exclusive retailing, but the cost of the business model may be high, say experts.
In its first acquisition in India, the American online retail giant is planning to buy out the fashion portal
The company is likely to choose one of its existing auditing partners -- PricewaterhouseCoopers, EY (formerly Ernst & Young) and KPMG -- as an advisor for the listing process.
Entrepreneurship hasn't been a cakewalk for him, says Sinha.
Amar Nagaram, the chief executive officer of Myntra, has put in his papers after three years of leading the fashion e-commerce platform, and will pursue his own venture. According to an email by Flipkart CEO Kalyan Krishnamurthy to employees, Nagaram will be at Myntra till December-end to ensure a smooth transition, and will continue to be associated in an advisory role. "After nearly three years of leading Myntra, Amar has decided to leave the Flipkart Group to pursue his own venture.
E-commerce major Flipkart has burnt cash of $3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had $1 billion in cash in July 2021, which came down to $887 million by September 2022. The company, in July 2021, raised $3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart.
Jabong has joined hands with 10 boutiques, such as Meo Home Craft (for bags by rural artisans from Tijara, Rajasthan), Rinku Sobti (womenswear), Nidhi Munim, Crazy Palette (clutches & bags) and Uttama Bhatt (ethnic womenswear).
Narayanan's strategy of building exclusive brands for Myntra has been a success as well, and more such brands will be added to the portal's offering in the future
The Dabangg actor gets candid about her fashion choices.
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
From 690,800 sq ft in 2013, the absorption by e-commerce companies in Chennai dropped to 31,150 sq ft last year.
Many across Corporate India seem to have taken a leaf out of Modi's endorsement of healthy living through yoga.
His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Bansal, however, denies the allegations.
The glamorous actress left us wanting more in this stone-encrusted belt and an elaborate gold head piece for Jabong's in-house Sangria label.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Even smaller players like Bluegape.com have launched T-shirts, cups, wall clocks and other products inspired from the fan community.
"Our artificial intelligence tells us what people are buying at that point, what is in fashion; on the other hand, we have a fair idea of the material available. It gives us a sense of what we should be putting across in the market and we can put them across really quickly," Ananth Narayanan, CEO, Myntra, tells Alokananda Chakraborty.
Buoyed by the success of e-commerce players like Jabongand Myntra, textile companies like Arvind Ltd, TT Ltd and Creative Lifestyles, among others are exploring the online market through their own e-commerce platforms.
They have struck gold by partnering online retailers.
We bring you some beautiful people we came across on Day 3 of Lakme Fashion Week Summer/Resort 2016
CashKaro.com works with online retailers like Amazon.in, Paytm, Jabong and ShopClues
This issue assumes greater importance if you are a managed marketplace in the hypercompetitive online world.
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
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