Fashionandyou.com acquires Urbantouch.com

Fashionandyou.com, the online fashion and lifestyle e-commerce

company has acquired Urbantouch.com in a cash plus stock deal valued at approximately $30 million (Rs 166 crores). Abhishek Goyal, who started UrbanTouch.com in January 2011, will now join Fashionandyou.com as the new CEO and the existing shareholders of Urbantouch.com will exit the venture.

Fashionandyou.com and Urbantouch.com will co-exist as independent identities and will focus on emerging as lifestyle e-commerce portals operating across persistent and flash sales model. Commenting on the acquisition Harish Bahl, CEO, Smile Group & Chairman Fashionandyou.com said, “This acquisition is a strategic move for Fashionandyou.com to further strengthen its market leadership in fashion and lifestyle e-retailing. UrbanTouch.com will help us in expanding our product offering in personal and beauty care segment. We are very excited with Abhishek Goyal joining as the new CEO of Fashionandyou.com, he is a passionate entrepreneur and we have immense faith in his leadership style and the team that he has built at Urbantouch.com.”

Fashionandyou.com is a member’s only fashion and lifestyle e-commerce company. Today, the platform boasts of 3.6 million members. It recently launched its interface to make the navigation user friendly. The new acquisition will add to its current portfolio of fashion apparels, designer wear, accessories, footwear’s, watches, jewellery and home décor products among others.

Urbantouch.com is an online destination for women for beauty brands. It offers more than 300 brands and over 15,000 unique products. Since its inception in January 2011, UrbanTouch.com has grown to 200 people team and serves all the orders from its centre in Gurgaon.