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E-commerce player Flipkart aims to double online product sale to $8 bn in 2015

Online
marketplace Flipkart is reportedly aiming to double the total value of goods it
sells to $8 billion in 2015, reports
Reuters,
citing sources.

Online
marketplace Flipkart is reportedly aiming to double the total value of goods it
sells to $8 billion in 2015, reports
Reuters,
citing sources.

Currently, the
company’s gross merchandise values (GMV) is $4 billion, calculated on the basis
of monthly average sales. According to industry estimates, Snapdeal and Amazon
India current GMV is around $3 billion and $1 billion respectively.

Flipkart is also
reportedly rolling out financial assistance, to the tune of $80k, for merchants
to help them scale. The company has reportedly been working with investors and
partners to offer working capital assistance to sellers. While the average loan
value is $8k-$16k, it can go up to $80k, reports the Financial
Express
, citing a senior company executive.

“Last year, we
saw a lot of sellers across India adopting the e-commerce marketplace model
both from metros as well as non-metros. Currently, we have thousands of sellers
on our platform and are expecting exponential growth in our seller based this
year,” Ankit Nagori, SVP – Marketplace, Flipkart was quoted in the report as
saying.

Categories like
apparels and footwear, mobile and accessories and home décor and furnishing
were the most popular among customers while home appliances and jewellery were
also catching up, adds Nagori.

In a bid to
comply with the FDI regulations of the country, Flipkart spun off WS Retail into
a separate entity and sold it to a group of high net worth individuals led by
former OnMobile COO Rajiv Kuchchal in February 2013. However, WS Retail
continues to be the largest seller on Flipkart’s marketplace, accounting for
over 75% of overall sales. 

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