Flipkart claims to be India’s top fashion etailer with sales of $1 billion for FY 2017-18

By

Maverick Martins

Published
Mar 21, 2018

Indian e-commerce major Flipkart has claimed to be the country’s top fashion house in terms of revenue with total sales of Rs 6500 crore (approx $ 1 billion) for the financial year 2017-18.
 

The e-commerce giant has toppled its fashion subsidiary Myntra in the process which generated sales of about $ 900 million (approx Rs 5868 crore).
 
 “These are actual sales and not gross merchandise value, or GMV, run rate which etailers typically quote online retailer’s business grew faster in non-metro cities, which generate about 55% of overall fashion sales, and is chasing a GMV run rate of $1.6-1.7 billion. Fashion is one of the top three businesses for Flipkart, and has a higher frequency of purchase and generates stronger margins compared to smartphones and electronics,” Flipkart fashion head Rishi Vasudev was quoted as saying by the Times of India.

“Flipkart’s gross sales do not factor in the discounts and returns given out by the e-tailer, a regular occurrence for the ecommerce industry. The business, as a whole, grew 40% annually. We have a clear leadership with about 35% market share. We aim to grow 60% going forward,” Vasudev added.
 
Over the last few months, Flipkart Fashion has been striking partnerships with major international brands to house exclusive collections and brands which have led to a surge in sales.

Flipkart had earlier claimed to be the biggest e-commerce company in India stating that it is bigger by 40 to 50% than the second player in the market.