Amazon is in talk with Jabong to acquire the complete stake as media sources have reported. If sources are to be believed the move is inspired to fortify its presence in fashion category.
Jabong is one of the fashion portals that Amazon is interested in acquiring, as the sources said that a deal is not imminent. A regulatory filing by Rocket Internet, which incubated Jabong, put the value of the fashion portal at 388 million euros, or $500 million (Rs 3,000 crore).
However, there are no official words from either sides. It is worth noticing that Amazon founder Jeff Bezos has shown his commitment to spend $2 billion in India during his recent visit to the country.