ALIGARH, UP, INDIA, March 17, 2022 /EINPresswire.com/ — Mergers and acquisitions are often seen in business scenario. From larger business setups to mediocre to small businesses, one gets to see these things happen. The latest to join the bandwagon is none other than Sameer Group Pvt. Ltd that recently acquires the supremely famed online fashion giant ModLily.
Details about the Acquisition
Sameer Group is a privately owned holding company of India that deals with real estate and ecommerce business through its subsidiaries Sameer Real Estate Pvt. Ltd and Essencia LLC. Now this business mogul acquires another fashion magnate ModLily for $1.2 million.
ModLily.com is a U.S. and China based company launched in 2009 that has nearly 3 million followers on Facebook. The fashion tycoon is one of the top five clothing retailers on Amazon. The news of the acquisition has spread in business circles and all over. The Indian Tech Entrepreneur Syed Sameer Ali, 31, who is the CEO of Sameer Group has done this deal with ModLily.
The website (ModLily.com) was sold to Sameer Group Pvt. Ltd through Flippa.com – the massively popular online website marketplace for websites buying and selling. The business deal between the two giants – Sameer Group and ModLily is being coined the largest deal in Flippa’s history.
The deal was inked in February 2022, and soon after started making headlines in the e-commerce and online entrepreneur world because of the colossal popularity of the fashion website ‘ModLily’.
About Syed Sameer – the Man Behind Sameer Group Pvt. Ltd
Born in Aligarh, India, Sameer moved to Al Khobar in Saudi Arabia during the Gulf War when he was 2 years old. He developed passion for computer very early in life.
A self-taught programmer and web-designer, he hand-coded, designed and launched his first website when he was just 11. At 14, he launched his own web design company ‘CubeFlow Services’. When he was 20, his company began earning many web-design accolades from industry leaders such as SitePoint.com. By the age of 25, Sameer had saved up to $150,000.
Goals for Future
He likes to take ModLily.com to heights. He wants to launch the website in new global markets, and likes to grow his family’s real estate business as well. Let’s wait and see how ModLily now grows with Sameer Group. It is certain that the fashion brand will touch big heights.
SAMEER GROUP INDIA