Flipkart acquires $35M worth stake in Indian fashion brand Arvind’s Fashions
In a bid to accelerate growth of its cashcow Fashion ecommerce vertical, Flipkart has announced buying a minority stake in Indian fashion brand Arvind Youth Brands, the company that operates the very popular Flying Machine brand in India. The brand is owned by fashion juggernaut Arvind Fashions. The deal, that saw Walmart owned Flipkart invest $35 million in one of India’s biggest fashion brands, hopes to further strengthen Flipkarts’ lead in the only market where it has Amazon beat-Fashion. The fight between Amazon and Flipkart has been a long fought battle, and one that continues to wage. That being said, through its acquisition of brands like Myntra and Jabong, Flipkart has managed to maintain a clear lead in the fashion industry.