Early last month, in an environment of consolidation-driven acquisitions in the domestic e-commerce market, Myntra decided to change lanes. It went to San Francisco to snap up a technology startup called Fitiquette to bring on board the capability of offering its customers a virtual fitting room. Strategic acquisitions, where the acquirer buys a specific capability rather than revenues and customers, are still somewhat rare in the Indian e-commerce market. We reached out to Myntra founder and CEO Mukesh Bansal for more on the Bangalore-based e-commerce company’s acquisitions strategy. In his emailed responses, Bansal briefly touched on the integration of Fitiquette and Sher Singh and future plans for a hybrid e-commerce model involving a marketplace at Myntra. Edited excerpts: Startup Central: Fitiquette was a strategic acquisition. Does Myntra plan to pursue more such acquisitions in the medium term? What could be the likely ticket sizes of such acquisitions ? Bansal: We are not actively looking out to acquire companies but will be open to acquisition opportunities which offer strategic advantage over competitors and help fulfill our long term business objectives. We will not be able to disclose the exact figures of the (Fitiquette) deal, but it was a part cash and part equity deal. Startup Central: What kind of time frame have you set for the Fitiquette integration? What would the process involve at an organizational level? Bansal: We aim to have the technology developed by Fitiquette integrated into the Myntra.com website within the next two months. Andy (Fitiquette co-founder Andy Pandharikar) and the Fitiquette…
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