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Myntra and Jabong to Invest $300Mn | Funds for Flipkart

According to sources, Myntra and Jabong are both set to invest approximately $300 million. In the span of next three years with a view to gain a larger market share. These subsidiaries are part of Flipkart and they aim to triple their GMV to around $4 billion in the coming three years. Funds for Flipkart. Flipkart’s subsidiaries came up with this announcement after Flipkart revealed its plans to be the topmost fashion stop and targeted a GMV of around $1.7 billion by the end of 2019. The companies also planning to triple their consumer base and increase their share. For the domestic online fashion market to about 50%.

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