In more consolidation in the local ecommerce segment, Nexus Venture Partners-backed Yebhi, an ecommerce startup focused on lifestyle products, has acquired fashion jewellery etailer Stylishyou in a cash-and-stock deal, according to a press statement. Details of the size of the transaction have not been disclosed. Following the acquisition, Stylishyou founder Shraddha Dadani will join the Yebhi team as head of jewellery, say media reports.
The Stylishyou acquisition follows Delhi-based SnapDeal’s acquisition of online sports goods store eSportsBuy last month. Earlier in February, Bangalore-based books-to-music etailer Flipkart bought Gurgaon-headquartered peer Letsbuy in a cash-and-stock deal.
Stylishyou (the website is currently not live) was founded in 2011. The company also received incubation support from Indian Angel Network (IAN), through the IAN Incubator programme, which is a partnership with the National Science and Technology Entrepreneurship Development Board, Department of Science & Technology, government of India. Stylishyou offers designer and branded jewellery for women. Further details on the company’s scale of operations were not available.
Delhi-based Yebhi, founded in 2009, is an ecommerce site promoted by Big Shoe Bazaar India. The site was earlier known by Bigshoebazaar and started out with an exclusive focus on footwear. It rebranded to Yebhi when it decided to enter the broader lifestyle category. The company continues to run a footwear site called Bigshoebazaar, but focuses on the business-to-business segment selling products to shoe retailers.
Big Shoe Bazaar India raised a $2.2 million Series A round from Nexus Venture Partners in early last year and followed with a $9 million Series B round in July from Catamaran Ventures and Nexus. The company’s founders include former Vishal Retail executive Manmohan Agarwal, Nitin Agarwal, a co-founder of online education company Brainvisa Technologies, Danish Ahmed and Rajul Jain. Yebhi currently offers over 150 brands on its site.
Image Courtesy: Yebhi