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Million in cash in a deal that boosts the e-tailers ambitions in India and could help it to fend off a wave of consolidation in e-commerce. 5 million members on its platform – thats five times the number of users at Flipkart, which had once been the largest, said it will provide Snapdeals users with free gift benefits for a year. 50 million to expand its product range to Zaloras premium range. The acquisition will further strengthen our position in the online fashion market and will help us bring high-quality and innovative fashion brands to the platform to enable our users to explore an ever-growing number of fashion options for them personally and on a shopping adventure, said Rajan Anandan, chief executive of Snapdeal. Zalora said it has also agreed to join Snapdeals expansion programme in the country. Snapdeal had opened its first brick and mortar store in the city of Kolkata in January, and said it plans to open five more in the next six months. India has been a key growth market for online retailers, who have been battling stiff competition from brick-and-mortar businesses. 16 billion in 2014, the sector has also grown rapidly. Zalora, which started out in 2007 and is headquartered in Brooklyn, joined the race to be the online shopping destination for the world in 2014. Snapdeal had started out selling books and now has over a million users on its platform. This acquisition is a validation of our strength in India, and is a clear indication of the continued upward trajectory of the sector in India, Snapdeal co-founder Vijay Shekhar Sharma said in a statement. Snapdeal has already expanded its product range to Zaloras premium range in several categories, including jewelry, leather goods, handbags and shoes. Zaloras user base currently consists of a cross section of India. According to a source, the deal is expected to be completed over the next couple of months.

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