Flipkart to focus on fashion, loyalty programme for growth
Walmart-owned Flipkart plans to focus on the fashion category and loyalty programme for growth in the Indian e-commerce market.
The company also stated that it will continue to invest in technology and infrastructure going forward to scale up its business operations in the country.
Flipkart had recently bought a minority stake in Arvind Youth Brands, which owns denim brand Flying Machine and also invested in Universal Sportsbiz Private Limited, which owns clothing brands including Wrogn, Imara, and Ms Taken.
“Flipkart Plus, which is a very unique local loyalty programme, is one very big priority. Second, grocery as a category is something where we want to strengthen our value proposition, especially partnering with the roughly million kirana partners we already have in our ecosystem," Flipkart Group CEO, Kalyan Krishnamurthy, said during a Walmart post-earnings briefing.
“Fashion is another big category in India, which is under-penetrated digitally, so we want to capitalise on that opportunity. Technology and infrastructure will be two very big investment areas next year and going forward," he further said.
Flipkart sees huge growth potential in the fashion segment and plans to further expand its fashion portfolio through moving to acquire manufacturing and distribution rights for international brands.
Copyright © 2021 FashionNetwork.com All rights reserved.