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Flipkart acquires Myntra to extend fashion footprint

May 22, 2014 (India)

With a mission to bring high quality and affordable lifestyle products to Indian customers, Flipkart announced that it has joined hands with Myntra, India's leading e-commerce platform for fashion and lifestyle products.
 
A rapidly growing company based in Bangalore, Myntra is a brand with strong relationships, having partnered with more than 650 leading fashion and lifestyle brands in the country. 
 
Sachin Bansal and Binny Bansal, the co-founders of Flipkart, and Myntra’s founders, Mukesh Bansal and Ashutosh Lawania, are excited to work with each other. In this new association, along with being the CEO of Myntra, Mukesh Bansal will also head the fashion business for Flipkart and join the Board. The combination of Flipkart and Myntra brings together two highly complementary companies, each recognized and acknowledged e-commerce leaders and innovators - creating an organization uniquely qualified to meet India’s growing demand for online lifestyle products.
 
“We believe that the future of fashion in India is e-commerce. We have known Mukesh for a long time and are delighted to partner with him. Myntra has a strong team with excellent domain knowledge. They also have the best relationships with lifestyle brands. This partnership will strengthen both our positions in the fashion space. We will continue to work as independent entities and grow together as leaders in the Indian fashion and lifestyle industry." said Sachin Bansal and Binny Bansal, co-founders of Flipkart. 
 
"We are excited to partner with Flipkart, the biggest e-commerce platform in India. Sachin, Binny and their team have built a pioneering e-commerce platform on a foundation of strong technology and customer centricity. Flipkart is the most powerful e-commerce brand in India and has a very ambitious agenda to build the next generation of retail in India. Leveraging mutual strengths, we will build Myntra into India's leading fashion powerhouse and create many original fashion brands," said Mukesh Bansal, co-founder and CEO of Myntra.
 
This partnership will support Flipkart’s and Myntra's shared mission to bring high quality and affordable fashion and lifestyle products to each and every Indian consumer. Post this announcement, Flipkart and Myntra will continue to work as independent entities and grow together as leaders in the Indian e-commerce industry.
 

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