Fashion e-tailer Myntra has been a coveted trophy for a while now.
Five years ago, it became a prize e-commerce giant Flipkart could show off to its rival Amazon. While Amazon was just starting to ramp up its India operations in 2014, Flipkart was acquiring Myntra, followed by the acquisition of Myntra’s rival Jabong two years later.
Before Amazon could finish saying fashion, Flipkart had consolidated its lead in the fast-growing segment. In a neck-and-neck race of 31.2% market share for Amazon and 31.9% market share for Flipkart, according to research firm Forrester’s data for last year, Myntra-Jabong took Flipkart’s share of the pie up to 38.4%.