Homegrown online marketplace Flipkart is eyeing sales worth $8 billion (about Rs 50,000 crore) in 2015 in terms of total value of goods sold, more than double of $3 billion clocked last year. Also Read - iPhone 11, iPhone XR up for grab with massive discount on Flipkart Big Saving Days sale
Increasing Internet penetration and online shopping by youngsters helped the e-commerce firm hit a gross merchandise value (GMV) of $1 billion in March 2014. The Bengaluru-headquartered firm is also targeting to add 100,000 sellers on its platform this year and expects to sell 25 million units (products) per month during the same period, people in know of the development told PTI. Also Read - Flipkart Big Saving Days sale begins: Pixel 4a, Realme X7, Samsung Galaxy F62, more on discount
“Flipkart has set a target to reach $8 billion in GMV in 2015 and add 100,000 sellers on its platform. It also expects to sell about 25 million products per month by the end of this year,” they added. When contacted, a Flipkart spokesperson said: “We will not be able to comment on this information.” Sources also said that Flipkart has set a target of selling one billion goods on this platform annually by 2017-end. Also Read - Flipkart Big Saving Days smartphone deals: Pixel 4a is star of the show once again
The firm has been on an expansion spree since last year when it agreed to take 3 million sq ft of prime office space in Bengaluru from realty firm Embassy Group at an annual rent of Rs 300 crore in October 2014. This is considered the biggest single occupier leased transaction, in terms of space volume, in India. Flush with funds, the e-commerce firm is now ramping up its infrastructure and adding more sellers to its platform as it prepares to take on domestic rivals like Snapdeal and global ones like Amazon.
In December last year, Flipkart had said it got a cash infusion of $700 million. In July 2014, it raised $1 billion, the largest by any e-commerce firm in the country. So far it has raised over $2 billion in funding. As per various industry estimates, e-commerce business in India was about $6 billion in value in 2012 and is expected to touch around $76 billion by 2021.