Flipkart clocks footwear sales worth Rs 1900 crore for 2017
Indian e-commerce major Flipkart has claimed to be the country’s best footwear selling firm clocking sales around Rs 1800 to Rs 1900 crore (approx $284 to $300) for the year 2017.
With Rs 1900 crore (approx $300 million) sales in the year, Flipkart has managed to outdo leading retailers like Bata and Reliance in terms of revenue generated from footwear sales during the calendar year. What makes Flipkart’s claim more remarkable is that the numbers are of Flipkart alone and do not include the footwear sales from its subsidiaries Jabong and Myntra.
“The company aims to grow 60-65% in the footwear segment next year, targeting Rs 3,000 crore ($474 million) of sales by December 2018. Throughout the year, Flipkart worked exclusively with select brands to create new ranges with the help of user data which it collects on its platform,” Flipkart’s fashion head Rishi Vasudev told Times of India.
“Footwear as a category has the highest penetration online, and is still growing steadily. We have an over 50% market share of the online shoe market. Based on the progress of 2017, we are looking to offer more affordable, reliable quality products next year. We will reduce the price points as we collaborate with our partners,” Vasudev added.
To further penetrate into the booming footwear market in India the company is looking to offer exchange programmes for footwear in order to boost repeat purchase. The company has also tied up with brands like Ducati, Ed Hardy to ramp up its offerings.
Flipkart had also said earlier that it was the biggest e-commerce company in the country stating that it is bigger by 40 to 50% than the second player in the market.
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