Home / Knowledge / News / Apparel/Garments / Discounts to continue at Flipkart
Discounts to continue at Flipkart
11
Feb '16
E-commerce firms may be bleeding because of deep discounts, but Flipkart remains unfazed and will continue to fund discounts to win customers and stay ahead of the competition. It will also invest in back-end operations.

"As Flipkart, and the overall e-commerce industry continue to grow the business, we will continue to pass on discounts to the consumer," the company's co-founder and CEO Sachin Bansal told reporters in Mumbai.

Flipkart, one of India's largest e-commerce players, will focus on customer and seller acquisition as well as heavy investments in back-end operations over the next few years.

Bansal said Flipkart plans to invest more than $1 billion in infrastructure and technology in the next 3-5 years.

Bansal claimed that Flipkart's cost of operations has "significantly come down, to mid-single digits".

He also said that online fashion retailer Myntra, which Flipkart acquired in 2014, has also turned profitable at an operational level, "excluding cost of technology". (SH)

Fibre2Fashion News Desk – India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search