Sachin Bansal is busy making Flipkart’s future growth plans ever since he passed on the CEO responsibilities to Binny Bansal and took over as Executive Chairman.
Drawing a map for Flipkart’s next level of growth
Far from taking a backseat and relaxing after stepping down from CEO’s post, Flipkart’s co-founder Sachin Bansal is neck-deep in planning the marketplace’s future.
Speaking about his plans, Bansal said, “I am looking at new categories which can be introduced going ahead and also acquisitions. That apart, the key focus area at the moment for us is logistics and payments. We will be doubling our warehousing capacity.”
Focus on strengthening its logistics division
After admitting that logistics is one of the vital areas for future growth, Flipkart recently invested nearly $100 Million (Rs. 666 crore apprx.) into its logistics arm Ekart. In order to reduce cash burn and build a sustainable ecommerce business, the company believes that all subsidiary businesses including logistics and advertising has to be profitable.
In September last year, Flipkart reacquired Ekart from WS Retail. By the end of last year, Flipkart disclosed its plans to extend its logistics services to other ecommerce companies. The company also made major changes to its logistics strategy in January. Now with fresh $100 million funds, the etailer will work towards making Ekart an independent profitable entity and an alternate source of revenue.