You might have heard that Flipkart owned Myntra has acquired fashion e-tailer Jabong at $70 million on last Tuesday. Now let’s look at this deal from the view of different e-commerce sites.
Jabong: I was facing rough weather for the past few months. Global Fashion Group had been seeking buyers for me after Kinnevik and Rocket Internet was no more interested in making the investments. Myntra got me.
Myntra: I acquired Jabong to become India’s largest fashion platform. I will now become the exclusive online platform for international brands like Dorothy Perkins, Topshop, Tom Tailor, G-Star Raw, Bugatti Shoes, The North Face, Forever 21, Swarovski, Timberland and Lacoste in India and will have access to a combined base of 15 million monthly active users.
Flipkart: The fashion and lifestyle segment has been a strong performer for me, and is one of the biggest drivers of the broader e-commerce sector in India. Thank you Myntra, you and Jabong together will make me the king of Indian fashion e-commerce.
Snapdeal: What..?????? I was about to make this deal and Myntra already made it!…. Wait let me inform Future Group and Aditya Group’s Abof too. 😉
Amazon: Jabong almost got sold to me in 2015. But we fell through due to a valuation mismatch. Anyways this deal makes them (Flipkart, Myntra, and Jabong) composite now, while I am still prime #Amazon Prime. 😉
In spite of whatever happens in these industries; there is always good news for you guys. According to HSBC study, around 12 million jobs will be created in India’s e-commerce sector over the next 10 years and is also estimated that the number of people employed will grow by 700% by 2020. About 70% of these jobs will be in logistics and delivery, while the remaining will be in customer care, IT, and management.
For more updates on the jobs and market stay #zigsawed with us at www.zigsaw.com.
Article by: Ms. Charul Barola