Filings: Walmart-backed Flipkart’s invested $116M in Indian fashion retailer Myntra, part of the $800M Flipkart invested in other businesses in March (Pranav Balakrishnan/The Economic Times)

Walmart-backed Flipkart has invested $116M in Indian fashion retailer Myntra, part of the $800M Flipkart invested in other businesses in March. The deal is notable as it values Myntra at about 5x its 2016 sales (currently at $200M). The investment comes days after Walmart said it would stop selling products from H&M, following the Swedish company’s announcement that it would stop selling products from some Israeli companies. Flipkart is reportedly looking to deploy the fresh capital towards expanding its offline business and also to invest in technology and digital initiatives.

Walmart-backed Flipkart has invested $116M in Indian fashion retailer Myntra

Walmart-backed Flipkart has invested $116M in Indian fashion retailer Myntra. This is part of the $1B that Walmart has invested in various businesses across India.

Flipkart had earlier invested $200M in Myntra and together, they have a combined market share of around 30%. This investment could help Myntra to strengthen its position against rivals like Jabong and Amazon.

The investment comes at a time when both Flipkart and Walmart are looking to benefit from the growth of online shopping in India. Online shopping is expected to grow by 24% to 31% over the next three years, according to a report by e-commerce major Alibaba Group Holding Ltd.

The investment is part of the $800M Flipkart invested in other businesses in March

In March, Flipkart announced that it had invested $800 million in Myntra, an Indian fashion retailer. This investment follows the $1 billion that Flipkart had invested in other businesses in the previous month.

Flipkart’s investment in Myntra is part of a larger trend of Indian companies receiving funding from foreign investors. In January, Zomato, an Indian restaurant recommendation service, announced that it had raised $400 million from Japanese venture capital firm Softbank Group Corp. and technology giant Microsoft Corp.

This is the largest investment by Walmart in an Indian company

Walmart-backed Flipkart has invested $200 million (approximately Rs 1,600 crore) in Myntra, marking the largest investment by Walmart in an Indian company. This investment comes as Flipkart continues to consolidate its position as India’s largest e-commerce player with a market share of nearly 40% and over 100 million active users.

Flipkart first invested in Myntra in March 2017, when it acquired a majority stake in the Indian fashion retailer. The investment was part of a larger $1 billion infusion that Flipkartannounced at the time. Since then, the company has also announced investments in digital payments firm Phonepe and ride share platform GrabTaxi.

Myntra, which was founded in 2007, has over 250 million users

Myntra, which was founded in 2007, has over 250 million users. In March, Flipkart invested $M in Indian fashion retailer Myntra, part of the $M Flipkart invested in other businesses. Walmart-backed Flipkart is now the largest investor in Myntra.

The partnership will help Flipkart expand into new markets and products

Walmart-backed Flipkart has invested $M in Indian fashion retailer Myntra, part of the $M Flipkart invested in other businesses in March. Myntra, which was founded in 2007, is one of the leading online fashion retailers in India. The partnership will help Flipkart expand into new markets and products.

Flipkart has been looking to grow its ecommerce business outside of India. In March, it invested $M in a Chinese ecommerce company, Suning Commerce Group, and it also acquired a minority stake in UK-based online clothing retailer Clothes horses. The investment in Myntra will help Flipkart tap into the rapidly growing Indian fashion market.

The investment is expected to generate synergies between the

Walmart-backed Flipkart has announced that it has invested $M in Indian fashion retailer Myntra. This investment is part of the $M Flipkart invested in other businesses in March. The aim of this investment is to help Myntra scale up its operations and reach new customers.

This collaboration will help both companies gain insights into the other’s operations and learn from each other’s successes. The two companies have also agreed to work together on product development, marketing, and logistics.

Flipkart’s investments in Myntra and other businesses suggest that it is serious about expanding into the Indian market. India is one of the fastest-growing economies in the world, and there is a lot of potential for growth for both Flipkart and Myntra. This partnership will help them tap into that opportunity.

Conclusion

Walmart-backed Flipkart’s invested $116M in Indian fashion retailer Myntra, part of the $800M Flipkart invested in other businesses in March. With Walmart and Myntra now partners, Flipkart is looking to compete with Amazon India head on.

Leave a Reply

Your email address will not be published. Required fields are marked *