Flipkart Buys Myntra-It’s Official
“It’s a 100% acquisition.” confirmed Sachin Bansal, co-founder and CEO of Flipkart.com.
Today at the conference, the deal was announced where the conference room was full of journalists to capture the much talked deal. Mukesh Bansal who established Myntra will be on the Flipkart board and also Myntra will reamin a separate business entity as per the deal. Aslo, Muskeh will look after Fashion division of Flipkart.com.
This acquisition which is one of the hottest acquisitions in Indian space seems to have raised few striking questions:
- Will this deal lead to extinction of Myntra as a brand?
- What factors forced Mukesh Bansal to give up Myntra dream and join hands with Flipkart?
- With the e-commerce market growth, has the competition become so fierce that even a brand like Myntra is finding difficult to sustain?
- Has Flipkart become the biggest player in the e-commerce market space with only major competition from Amazon?
These are few questions for which we might not have a definite answer right now but we need to ponder and find out.