Today was one of the beautiful and memorable day remarked in the history of E-commerce.
Jabong which is owned by Global Fashion Group(GFG).
There were many rivals fighting for acquiring Jabong such as Aditya Birla Group, Amazon, Future Group and Snapdeal. But, finally the battle was won by Flipkart Ltd.'s Myntra.
It was a $70 million deal, which preserved the Flipkart's position as no.1 in the Indian online market place.
When at this time Flipkart was struggling to grow, it is one of the best step took by them, says experts. It will definitely increase there sales and on the other hand it has also increased the competition for the Giant Amazon.
Now the question arises that why Flipkart did so. The answer to the question is just to gain the market share and also to sustain in the market where the biggest competitor i.e; Amazon is doing just great. It will help Flipkart to increase its sales a lot.
All we can hope in the near future that definitely now; Flipkart + Myntra + Jabong will be greater than or equal to Amazon.
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