Myntra acquires fashion e-store Jabong

Bengaluru: Flipkart Group company Myntra on Tuesday announced its acquisition of e-store Jabong from Global Fashion Group, saying this gave Flipkart pole position in the sector catering to the country's fashion and lifestyle segment. "The acquisition of Jabong further strengthens Flipkart Group's position as the undisputed leader in fashion and lifestyle segment in India," the e-commerce platform said in a release here. "Myntra and Jabong are all set to define the next generation of online shopping with a combined base of 15 million monthly active users and offering the best of brands to Indian consumers," it added. "This acquisition is a continuation of the group's journey to transform commerce in India," Flipkart co-founder Binny Bansal said in the statement.