Leading Indian online marketplace Flipkart has big plans for its decennial celebrations. Established in 2007, the company is planning to introduce an event called Big 10 over the next few months. Nitin Seth, the company’s COO said,
“The Big 10 theme is very much going to be part of our sale events this year.”
It is expected to hold sales and promotions to mark its tenth birthday.
Seth indicated that the company was focusing on private labels, and was planning to introduce them in every vertical,
“There is a lot of focus around accessories, such as mobile chargers, mobile cases and covers, bedsheets, etc. There are 6-7 categories that we are already playing in.”
Private labels & exclusive deals
Flipkart has been trying to establish itself as a platform to sell exclusive smartphones, but brands are getting tired of selling on single platforms. The company has in the past inked deals with leading mobile phone manufacturers including Xiaomi, Motorola, and Lenovo.
The company has been planning to sell the handsets offline, but as of now it looks to be wishful thinking, as the company has not taken any concrete steps towards setting up offline stores. It has set its sights on the mobile market, confirms Ayyappan R, a director at the company,
“Over the next two quarters, we will build on the selection, ensure that there are price-competitive products and brands in every single price segment, combined with the capabilities of (product exchange) and consumer brands, and our new capability around assured buyback. Once Kalyan (CEO Kalyan Krishnamurthy) returned, we’ve again started focusing on exclusives.”
All its efforts appear to be doing good, with its growth picking up pace. Under the leadership of Krishnamurthy, things seem to be on track. It recently got an infusion of $ 1 billion capital as well. It has also taken steps to keep its sellers in good humour by cutting its commission. After a lull in its journey, things seem to be looking up for the marketplace. At its tenth year, Flipkart is holding strong in the face of intense competition from Amazon.