Myntra secures $81 million fund infusion from parent Flipkart

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Online fashion retailer Myntra has received an $81-million fund infusion from its parent firm Flipkart – at a time when the company is pushing its quick delivery offering for apparel.Myntra is set to face increased competition in the online apparel retail space with the comeback of Chinese fast fashion platform Shein, which has returned to the Indian market after a five-year ban.

According to regulatory filings made in Singapore, Myntra’s holding company, FK Myntra Holdings Pvt Ltd, received the capital in November, making it the second investment…



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Myntra secures $81 million fund infusion from parent Flipkart


Online fashion retailer Myntra has received an $81-million fund infusion from its parent firm Flipkart – at a time when the company is pushing its quick delivery offering for apparel.Myntra is set to face increased competition in the online apparel retail space with the comeback of Chinese fast fashion platform Shein, which has returned to the Indian market after a five-year ban.

According to regulatory filings made in Singapore, Myntra’s holding company, FK Myntra Holdings Pvt Ltd, received the capital in November, making it the second investment…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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