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Is Fashion And You Buying UrbanTouch.com?

A now-cancelled post on TheRodinhoods, last week, suggested that The Smile Group promoted Fashion and You is planning to buy UrbanTouch.com, and that UrbanTouch founder Abhishek Goyal will take over as the CEO of Fashion And You. In response to a query about the deal from MediaNama, both Harish Bahl (Founder, Smile Group) and Abhishek Goyal declined to confirm or deny the development. When we asked Goyal about discussions with Fashion And You about a potential acquisition, Goyal gave a boilerplate "we discuss many things with many people" response. Bahl, currently travelling in the US, responded via email saying "At this stage we are not in a position to accept or deny the news." Both companies are e-commerce ventures based in Gurgaon and focused on fashion, and it is not clear whether a deal is being discussed. Fashion And You is focused primarily on flash sales, while UrbanTouch has an online retail model in the personal care category. Alok Kejriwal, who canceled the The Rodinhoods post after the poster "Dhaval Atre" apparently did not prove any of the unsubstantiated allegations about Fashion And You made in that post. Kejriwal wrote: - The management of FNU has approached me and advised me that this is a false post. - The CFO named in the post has refuted the claims. I have personally spoken to him. - I have been in touch with Sequoia Capital and they have supported FNU. (I know VCs well. If FNU was guilty, they would NOT say it to…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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