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Flipkart buys Jabong, beats out Snapdeal, Future Group

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Flipkart buys Jabong, beats out Snapdeal, Future Group Flipkart-owned   online fashion   retailer Myntra has acquired smaller rival   Jabong   as it looks to strengthen its portfolio in the high-margin online fashion retail space. The move comes at a time when rival Amazon is pumping in billions of dollars to have a run at becoming the leader in India’s fledgling   e-commerce   space. Snapdeal   – which competes directly with   Flipkart   – large-format retail giant   Future Group , Aditya Birla owned Online shopping and fashion store. Shop the latest fashion trends online |   abof.com   and others were also in the running to acquire Jabong. The company in a statement said the deal will further strengthen its position as the “leader in fashion and lifestyle segment” in India. It did not disclosing the financial details of the deal. “Fashion and lifestyle is one of the biggest drivers of ecommerce growth in India. We hav...