Flipkart Archives - Page 5 of 5 - Inside Retail Asia

[:en]Flipkart eyes Alibaba as model[:zh]Flipkart欲成为印度的阿里巴巴

[:en]Flipkart co-founder Sachin Bansal says China and India’s online retail markets are similar, and he is confident of replicating the success of the Chinese giant. “What’s happening in China is inspiring – it’s bigger than anything in the US,” said Bansal. Online shopping is rising in the country as consumers seek more convenience to buy. And mobile shopping is accelerating the trend, with up to 30 per cent of e-shopping now are done through smartphones by shoppers from 15 to 3…

[:en]Flipkart eyes more acquisitions[:zh]Flipkart关注更多的收购

[:en]Indian e-tailer Flipkart plans more acquisitions having just raised $210 million in a fresh funding round. Flipkart has secured investment from DST Global. Existing investors, including Tiger Global, Accel Partners and Iconiq Capital, also participated in the round. “The funding further strengthens our capabilities to deliver on our next stage of growth,” said Binny Bansal, Flipkart co-founder and COO. “Flipkart is one of the fastest growing internet companies globally led by…

Flipkart, Myntra to merge

Indian online retailer Flipkart is in final discussions to buy rival Myntra. Sources familiar with the matter said Myntra is aiming for a valuation of Rs2400 crore ($400 million). The deal is expected to be finalised by the end of this month, they say. Flipkart was founded in Bangalore by Sachin Bansal in 2007, the same year Myntra was founded by Mukesh Bansal. “The Flipkart and Myntra merger will create the first Indian e-tailing powerhouse, and provide a big fillip to India’s still na…

Flipkart hits record sales

India’s online shopping boom has helped Flipkart hit $1 billion sales. That’s well ahead of its goal of 2015, say founders Sanchin Bansal and Binny Bansal. “In March 2011, we announced that by 2015, we wanted to hit $1 billion in GMV. At that point in time, our run rate was US$10 million. Today, we are really proud and excited to announce that we have hit a run rate of $1 billion GMV one year before our target,” they said. Flipkart, touted as India’s Amazon, is backed by investors inclu…

India’s online retail to triple

India’s online retailing – both direct and through marketplaces – will become an Rs500 billion (approximately $10 billion) industry by 2016. That’s according to research house Crisil who said the country’s online retail will grow at a whopping 50-55 per cent annually over the next three years. That would be over 30 times its size at the end of fiscal 2008, it says. Yet it remains a nascent portion of the overall e-commerce segment in India where the travel business dominates with about …

India’s Myntra to launch marketplace

Indian fashion online store Myntra plans to launch a marketplace this year to compete with the likes of Flipkart and Amazon. Marketplace format is a type of e-commerce site where product and inventory information is provided by multiple third parties, but transactions are processed by the marketplace operator. It aggregates products from a wide array of providers, selection is wider, availability is higher and prices are more competitive. The format enables companies to save on inventory r…

Indian e-commerce tipped to grow

E-commerce is set to become a $70 billion industry in India by 2020. According to the co-founder and CEO of Indian e-commerce company Flipkart, Sachin Bansal, the industry has grown by 80 per cent in 2013 and that pace is forecast to continue over the next five to six years. Indians are normally “can’t touch, won’t buy” type consumers, however, that mentality is now changing, says Bansal. He said online shopping is going to become mainstream in the coming five to six years. He added tha…

Flipkart, Myntra to merge

Indian retailers Flipkart and Myntra are reportedly in talks to merge. In a move proposed by common investors Accel Partners and Tiger Global, the two are currently in talks to combine operations. The merger would enable Flipkart to widen its product categories and help it achieve its goal of selling $1 billion gross merchandise value by next year. “It’s still undecided. We are talking, and hoping to address the concerns of everyone. The Premji Invest-led consortium is also in final sta…

Flipkart plans acquisition

Indian online retailer Flipkart plans to acquire rivals including Zovi and YepMe. Flipkart raised Rs2200 crore (around US$360 million) last year to fund acquisitions. “2014 will be an important year for us. This will mean looking at private labels and also opening up our marketplace to more and more sellers,” said Sachin Bansal, co-founder of Flipkart. In 2012, Flipkart bought electronics portal Letsbuy. Arvind Singhal, chairman of Technopak, said acquiring an already established bra…

Flipkart gets funds

Indian online retailer Flipkart has raised an additional $160 million, taking its total capital raised since July to $360 million. Investors in the latest funding round include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital along with one of its existing investors, Tiger Global Management. In July, the online retailer raised $200 million from four investors including Tiger Global and Accel Partners. The funds will be used to boost Flipkart’s …

Flipkart offers e-payment solution

Indian e-commerce company makes online transactions easier for merchants.

eBay steps up India investment

Auction giant eyes Indian e-commerce growth.

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