Snapdeal Plans to Acquire to Strengthen Its Fashion Business


Image Source: bgr plans to acquire, a site that sells designer brands, to strengthen its fashion business.

As reported by the ET, Snapdeal is expected to take over as part of its acquisition plans, following the October 2014 funding of $627 million raised from Japanese telecom and internet giant ,Softbank. The deal is likely to come through, as Founder Sunjay Guleria has agreed to the valuation. However, both Snapdeal and Exclusively refused to disclose the deal amount.

Also Read: After Olacabs, Japanese Corporation Softbank Invests $627M in Snapdeal

In 2012, Guleria and other co-founders of had sold the apparel brand Sher Singh to Myntra. Snapdeal’s acquisition of will shore up its fashion offerings besides extending the list of its luxury brand products.

Also Read: Finally, Flipkart and Myntra Tie Knots!

A similar acquisition was observed during May 2014, when Flipkart had acquired Myntra to boost its fashion vertical, with Snapdeal taking the same road, the competition between the two might intensify.