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

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kevin Nelson
TissueGen

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search