India's e-commerce platform Snapdeal has acquired luxury shopping portal Exclusively.in.
According to Tech Crunch, the acquisition is part of its bigger strategy to capture 2 billion dollars in gross merchandise value in online fashion in India this year.
The move is likely to put the company at par with rival company Flipkart.
Flipkart, is also making moves to invest in high-end, online fashion through its Myntra acquisition; and Jabong, part of the Rocket Internet e-commerce empire.
