E-commerce major Snapdeal will shut down Exclusively.com and will integrate the latter's catalogue with itself, about 18 months after acquiring the premium branded fashion and lifestyle products marketplace. The entire catalogue of Exclusively, including fashion and lifestyle products, footwear, accessories will be available on Snapdeal and will be fulfilled through Snapdeal's logistics network," Snapdeal said in a statement. This move comes as Snapdeal adds more depth and brands to the fashion category," it said. In July, Snapdeal was in race to acquire online fashion retailer Jabong before the deal was clinched by bigger rival Flipkart. Flipkart-owned Myntra bought Jabong for USD 70 million in an all-cash deal to consolidate poistion in online fashion market in India.

Source: dna August 17, 2016 17:44 UTC