The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SEATTLE, United States — Amazon.com Inc. may put in a rival bid to acquire Bangalore-based Flipkart Online Services Pvt. even as the Indian e-commerce market leader is in talks with Walmart Inc. for a majority stake sale, according to the Mint newspaper.
Amazon has held early exploratory discussions to buy Flipkart, the newspaper reported citing unidentified people, who said a deal with Walmart is more likely to go through. The world’s biggest retailer is closing in on acquiring 55 percent of Flipkart through a mix of primary and secondary share purchases that could value the Indian company at $21 billion, according to the report.
India is seen as the next big potential prize after the US and China with Kotak Institutional Equities estimating the online market may reach $28 billion by 2020. The e-commerce battle in India has intensified as the burgeoning market lures global giants.
Flipkart and Amazon did not respond to requests for comment by the newspaper, according to the report.
Existing investors in Flipkart such as Tiger Global Management LLC, Accel Partners, Naspers Ltd. and IDG Ventures are among those expected to sell much or all of their shares in India’s biggest online retailer, according to the report.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.