When it comes to virtual shopping world, Flipkart is among the top e-commerce site of India. Almost every internet user would have done a online purchase.The Indian site Flipkart has acquired the biggest fashion online retailer Myntra in a deal around Rs.2,000 Crore with an idea to take over Amazon.
Flipkart’s co-founder Sachin Bansal told NDTV ,
I think this acquisition puts us far ahead of the competition in this space.Put together, we kind of reach 50 % market share.Not just that, it gives us an opportunity to grow further from here, to grow faster together.
The two retailers will work as individual companies only that Myntra CEO and Co-founder Mukesh Bansal will join the Flipkart board.
Here is the advantage Myntra has got says Mukesh Bansal,
Flipkart is the largest e-commerce company in India.They have very strong technology platforms,supply chain expertise, largest share of Indian e-commerce shoppers.So, we can leverage all of that while strengthening our fashion expertise.
We could see the price range between Flipkart and Myntra. From a customers view this would be a great news only if the prices of the items in Myntra slopes down to the price of Flipkart.