Amazon is in talks to buy Jabong. This is a part of the US-based online retailer’s plan to enter into selling fashion products in India.
According to the article in The Economic Times the person with the knowledge of the deal has stated that Jabong holds out at least $700million. Amazon said it will not comment on anything it may or may not do in the future and Jabong refused to comment on the matter.
Jabong is one of the fashion portals that Amazon is interested in. However Jabong also has a few other suitors, cautioning that the deal is not imminent.
LogicSpeak:
It is clearly visible that Amazon is doing a lot to expand its presence in India. It started off with “Pay with Amazon” and now it is looking at acquisitions to enter the fashion product space. We need to wait and watch how it will expand its strategies in India.
Source: https://bit.ly/ZhyKjZ
