Online fashion and garment retailing is becoming a mainstream business and will drive India’s retail story going ahead, feel investors and other industry players.
That’s why private equity and venture capital firms are pumping money into portals such as Myntra and Jabong. Now, the investor focus would be more on profitability.
While Bangalore-based Myntra has raised a fresh round of USD50 million from Premji Invest, there are rumours that the company will raise another USD50 million from new and existing investors such as Accel Partners and Tiger Global in a few weeks.
(Source: The Hindu Business Line )