wordpress blog stats
Connect with us

Hi, what are you looking for?

Flipkart shuts operations of Jabong’s website: Report

Flipkart has shut down the operations of Jabong’s website and users are redirected to Myntra’s shopping website from the Jabong website, the Economic Times reported. Upon visiting jabong.com, the website automatically gets redirected to myntra.com, and Jabong’s app on iOS, shows the message “rush to Myntra to place your orders”, right on the home screen. Items can no longer be bought via the app, and can only be added to a wishlist, MediaNama observed. We have reached out to Flipkart for confirmation.

Flipkart had acquired Jabong via Myntra from Global Fashion Group in 2016 for $70 million in cash. The ET report speculates that Jabong has been shut to consolidate Flipkart’s operations, and focus on Myntra. In November 2018, Myntra had reportedly said that all of Jabong’s functions including technology, marketing, category, revenue, finance and creative teams would be merged with the company.

Moreover, Walmart had incurred a non-cash impairment charge of $290 million on account of it writing off its investment in Jabong, CFO Brett Biggs had said in a statement in November 2019. In FY19, Jabong had reported revenues of Rs 204.6 crore, a 19% YoY increase, and its net losses also narrowed down to Rs 179 crore from Rs 188 crore the previous year, according to a Mint report. However, Jabong’s employee and finance expenses reportedly went up considerably in FY19, with an increase of 22% and 140% YoY, respectively.

You May Also Like

News

A group of seller associations in India, including the All India Online Vendors Association (AIOVA), All India Mobile Retailers Association (AIMRA), Federation of All...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ