Published
Jul 25, 2018
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Flipkart to shut down eBay India, to relaunch platform for sale of refurbished goods

Published
Jul 25, 2018

E-commerce major Flipkart has plans to relaunch eBay India as an exclusive platform to sell refurbished goods and will be stopping all transaction on the latter for the smooth transition of the same.
 

Flipkart to shut down eBay, to relaunch platform to sell refurbished goods - Reuters


The second-hand market is on the rise in India—particularly in the area of clothing, footwear and accessories. With the new platform, Flipkart is looking to make early inroads into this market to capture a large share of the used goods segment.
 
“Based on our learnings at eBay.in, we have built a brand new value platform launching with refurbished goods – a large market which is predominantly unorganised. As part of this launch, we will be stopping all customer transactions on eBay.in on 14th August, 2018 and transitioning to the new platform,” Flipkart CEO Kalyan Krishnamurthy said in an email to employees, PTI reported.

 “We will keep evolving and bringing newer formats, categories and features which cater to the needs of our value-conscious middle India,” Krishnamurthy said, adding all eBay.in sellers and customers will be migrated to the new platform.
 
“The new platform has a different value proposition compared to Flipkart, and will cater to a different target audience. We are committed to investing in this independent brand,” he pointed out.
 
The eBay-Flipkart deal was sealed in August last year after Flipkart had raised 1.4 billion dollars from Tencent, Microsoft, and eBay last April.  EBay exchanged its India Company and invested $ 500 million dollars for an equity stake in Flipkart thereby making eBay.in a Flipkart group company.

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