India's Flipkart buys Rocket Internet-backed online fashion store for $70 million

MUMBAI (Reuters) - India's biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country's e-commerce sector as competition intensifies.

from Reuters: Technology News http://ift.tt/2aq6zcw