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Online Fashion Retailer Jabong Might Sell Stake To Snapdeal: Report

Online Fashion Retailer Jabong Might Sell Stake To Snapdeal: Report

After the news of Rocket Internet considering its plans to sell foodpanda, Fabfurnish and Jabong in India, last week, another rumour made its way that Jabong has approached ecommerce marketplace player, Snapdeal, with a possible sale offer.

According to a business daily; Global Fashion Group (GFG), the company that owns Jabong, has been in talks with a number of probable investors for some time now.

However, when we reached out to Snapdeal and Jabong, both denied any such development and said that it is certainly a rumour and there is no such official discussion on the same.

Though, as reported by BS; Kunal Bahl, co-founder & CEO of Snapdeal said, “At any time, anyone who wants to look at raising money in this market, or is thinking about getting a strategic partner on board, comes and talks to us. We are always considering companies in every space because it is important for us to keep growing our ecosystem. The specifics, though, I can discuss later.”

Extending its portfolio, Snapdeal recently led an investment round in hyperlocal grocery startup, Peppertap, along with its existing investors Sequoia India and SAIF Partners.


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Author

Akanksha Pahwa

Inc42 Staff

Passion for writing and inclination of being updated in technology brings Akanksha together to be a content writer. Her prior experience in PR firms widens her genres in Media planning, Corporate Communication and Research Analyses.

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