Amazon-Jabong deal fizzles out; rumoured $1.2 Billion deal called off

In October last year, we heard about Amazon’s plans to acquire Rocket internet-backed etailer Jabong, which left us wondering if it were a well thought out move to counter competition from Flipkart. But from what we hear now, the deal, which pegged Jabong at a valuation of $1.2 billion, has been cancelled.

Why it has been called off is yet to be known. Had the deal materialized, it would have been the biggest deal ever in ecommerce industry and Flipkart-Myntra would have had a serious and equally strong competitor.

Currently, Jabong is inching closer to being a part of Global Fashion Group (GFG), which is an emerging-markets focused fashion ecommerce firm. GFG would be formed with other firms spread across 23 countries.