Finally the race to acquire Jabong is over and it’s Flipkart- owned Myntra that has emerged as the winner!

With this move, Myntra has managed to smoothly surpass other strong contenders like Alibaba, Future Group, Snapdeal and Aditya Birla Group’s Abof. The news was confirmed through a tweet by Sachin Bansal, co-founder of Flipkart.

Welcome @JabongIndia to the @Flipkart family. We’ll create history together.

— Sachin Bansal (@_sachinbansal) July 26, 2016

Jabong’s parent, Global Fashion Group had been in search of a suitable buyer for some months now and with this sale, the retailer will be joining its rival Myntra and Flipkart to create India’s biggest online fashion shopping destination.

Commenting on the same, Ananth Narayanan, CEO of Myntra said, “Jabong has built a strong brand that is synonymous with fashion, a loyal customer base and a unique selection with exclusive global brands. The acquisition of Jabong is a natural step in our journey to be India’s largest fashion platform. We look forward to working with the talented Jabong team to shape the future of fashion and lifestyle e-commerce in India.”

Binny Bansal, CEO and Co-Founder, of Flipkart also commented on the development by saying, “This acquisition is a continuation of the group’s journey to transform commerce in India. I am happy that we will now be able to offer to millions of customers a wide variety of styles, products and a broad assortment of global as well as Indian brands”

Today, @Myntra got bigger! Delighted to welcome @JabongIndia to the @Flipkart group!

— binnybansal (@binnybansal) July 26, 2016

An acquisition this big is definitely going to shake up the entire e-commerce market in the coming months, as it does mean less competition for Myntra, for the new e-commerce players like Reliance’s Ajio and Aditya Birla Group’s Abof, on the other hand- it spells doom as Jabong and Myntra together would truly make an indestructible force!

Jabong with its exclusive list of brands including high-end international ones such as River Island, Miss Selfridge, Dorothy Perkins, Topshop, Tom Tailor and Mexx has always been one of the most sought-after fashion e-tailers in India. So, merging of this exquisite offering with that of Myntra’s will definitely redefine online shopping experience as a whole.

However, the financial part of the deal is still unknown and from what was revealed earlier, one of the shareholders in Jabong’s Parent company, the Swedish investment firm, AB Kinnevik, was said to be seeking a valuation of US$ 100-150 million for Jabong in both cash and stock.