Zee Media Bureau
New Delhi: Online retailer Amazon is purportedly in talks to acquire online fashion retailer Jabong, as reported by a Business daily. The talks are said to be in preliminary stages currently.
This comes days after Flipkart had acquired Myntra for about $300 million in May this year.
Amazon offers fashion products on its website whereas Jabong website is dedicated to fashion apparel and accessories and acquiring it will be a big leap ahead for Amazon.
Jabong is valued at $500 million and holds 25 percent of the country's online fashion market share. The online retail market is expected to be worth over Rs 50,000 crore by 2016.
Amazon CEO Jeff Bozos in his India visit had promised to invest $2 billion in its India operations with a big chunk of it going towards acquisitions.
