(By Vikas SN & Nikhil Pahwa) Online fashion and beauty retailer Urban Touch, which was acquired by FashionAndYou.com last August for a reported $30 million, has shut shop, and UrbanTouch founder Abhishek Goyal, who had joined FashionAndYou as CEO following the acquisition, has quit the company, MediaNama has learned from reliable sources. We've also heard from sources that several members of the UrbanTouch team who had joined FashionAndYou are currently looking for jobs. At the time of the acquisition, it was reported that around 200 people had joined FashionAndYou from UrbanTouch. Our sources say that there was clear disagreements between the UrbanTouch and FashionAndYou teams following the acquisition, and that this is an e-commerce acquisition that didn't quite work out. Note that we haven't been able to confirm these developments from Smile Group founder Harish Bahl has also declined to comment on the development, as well as Goyal, who has been travelling, despite repeated attempts to contact him since yesterday, and requests for confirmation via SMS. Update: It appears that IndiaDigitalReview had broken the story on UrbanTouch.com being shut down yesterday. On Shutting Down UrbanTouch.com UrbanTouch.com is currently displaying a redirection message, informing visitors that its operations have now been integrated with Fashionandyou.com and for enquiries related to existing orders, users can contact the company's customer care department. It has also linked out to Fashionandyou.com website at the bottom of the note. Note that at the time of the acquisition, Goyal had said that both the portals will continue to operate as two distinct websites but will…
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