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In 2011, Myntra began selling fashion and lifestyle products and moved away from personalisation. By 2012, Myntra offered products from 350 Indian and International brands. The website launched the brands Fastrack Watches and Being Human. [12] In 2014, Myntra was acquired by Flipkart in a deal valued at ₹ 2,000 crore (US$230 million
Under Bansal's leadership, Myntra became a leading fashion e-commerce platform in India. [12] [10] In 2014, Myntra was acquired by Flipkart in a transaction valued at approximately $330 million. [13] Following the acquisition, Bansal took on the role of Head of Commerce and Advertising Business at Flipkart. [14]
Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008. [16] Flipkart acquired WeRead in 2010 from Lulu.com that helped it build its foundational strength which was the digital retail of books. This space was otherwise only shared by very limited number of players at that time in the market, such as Landmark and ...
Pages in category "Flipkart acquisitions" ... Myntra; P. PhonePe This page was last edited on 6 August 2017, at 22:51 (UTC). Text is available under the Creative ...
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries.Founded in 2006, it is the largest retailer in India in terms of revenue. [5] Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs.
In July, 2016 Flipkart acquired Jabong through its unit Myntra for about $70 million. In February 2020, Flipkart formally shut down Jabong to shift focus completely on its premium clothing platform Myntra. [1] [2] The portal sold apparel, footwear, fashion accessories, beauty products, fragrances, home accessories and other fashion and ...
In 2018, Walmart acquired a 77% stake in the Flipkart Group. After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO. [18] His 5.5% stake in Flipkart was valued at $1 billion after the acquisition. [19] [20] He resigned from Flipkart in November 2018 on allegations of personal misconduct. [21]