India’s Flipkart In Merger Talks With Fashion Retailer Myntra, As Common Investors Push For Consolidation

TechCrunch

Two of India’s biggest e-commerce retailers — Flipkart and Myntra — are apparently in talks to merge, a proposal being pushed by their common investors Accel Partners and Tiger Global. The Times of India reported this morning that Flipkart has already approached Myntra, and a decision on whether to go with the merger would be taken in two weeks.

Flipkart has been looking to expand in newer categories such as fashion retailing, its co-founder Binny Bansal had told me recently. By merging with Myntra, Filpkart can add another category, and also widen the gap with everybody else even further. Flipkart is aiming to achieve $1 billion in gross merchandise value by next year.

Flipkart has raised $540 million so far from investors including Accel, Tiger, Dragoneer Investment Group and Morgan Stanley Investment Management. In October last year, it raised $160 million, taking its Series E funding to be the largest…

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