Flipkart bets big on private labels, targets 40% sales in BBD 2017
Flipkart Fashion is gearing up for its flagship event ‘The Big Billion Days 2017’ and will give a major push to all its private labels targeting 40% sales.
Private labels give the e-commerce firms higher margins as compared to those sold by sellers on their platform. Flipkart’s fashion arm Myntra earlier in the week had said that it posted an operating profit in its private labels business in the past two months.
During the last event the ecommerce giant had given a major push to its recently launched fashion private labels Divastri and Metronaut, by offering up to 70% discount on the brands. During the upcoming sale event Flipkart is planning to expand their offerings in the private labels and exclusives categories to double total sales from last year.
"We expect year's sale to triple the share of exclusives and private labels during the festive season when compared to off-season hoping for a jump from 10-12% to 30-40%," said Rishi Vasudev, VP of fashion (retail), Flipkart to TOI.
"This time, a huge focus has been on creating categories, brands and products which are exclusively available on Flipkart. Right from the launch of our private labels to working closely with brands to developing products that are well-suited for our customers, we are trying to keep it all exclusive,” Vasudev added.
Flipkart, along with its fashion arms Myntra and Jabong, dominates 70% of the fashion market, according to industry estimates.
Flipkart Fashion had recently announced the launch of an exclusive brand range from Peter England.
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