Until now, Myntra, while being a wholly owned unit of Flipkart, has operated completely independently.
Bansal said he would continue to hold his substantial stake in Flipkart and remain a member of its board.
In May, Walmart agreed to buy a 77% stake in online retailer Flipkart for $16 billion.
At least half a dozen new mobility startups in India—including Rapido, Ather Energy, Bounce and Vogo—are in funding talks to raise large amounts o
Alibaba-backed BigBasket may end up raising about $300-400 million as part of the latest funding talks.
The high-stakes market share battle against Amazon India will require Flipkart to spend heavily to maintain its slender lead over its rival.
Its losses nearly doubled to ₹397 crore from ₹205 crore in the previous yea as the startup spent heavily to keep its lead over rivals such as Zoma
Since its founding in 2010, FirstCry has raised more than $100 million from Mahindra, IDG Ventures India (now Chiratae Ventures), New Enterprise Assoc
Walmart also predicted that its US e-commerce growth next year will be slower than the current financial year.
The firm will look to enter new areas and sectors such as citizen-focused legal services, property rights and public platforms.
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