Flipkart Invests $116 Million in Fashion Retailer Myntra Amid Challenge From Reliance, Nykaa
By Pranav Balakrishnan
After investing close to $700 million in Flipkart’s marketplace and its new healthcare vertical, the Indian e-commerce company’s Singapore-based parent entity has invested $116 million in its online fashion retail arm Myntra.
The investment was made on March 25, according to Flipkart’s regulatory filings in Singapore accessed by ET.
This takes Flipkart’s investment in its various businesses in March to more than $800 million.
ET had reported on March 31 that it had invested $553 million in Flipkart Marketplaces and $143 million in its new healthcare business. Flipkart also launched a separate app for the healthcare business, called Flipkart Health+, on April 6.
Photo courtesy of Pui Shan Chan.