The Walmart-backed Flipkart is betting on exclusive offerings and private labels for bigger market share in the country. After smartphones, the e-commerce giant is now looking for 50 percent of online fashion market during festive sales in October, reports ET. Flipkart Fashion is currently experiencing 60-70 percent growth and e-commerce platform seeks 100 percent growth in next few months.
Flipkart Fashion started with two private labels last year in 2017 with Big Billion Days sale. This year the company expanded to five labels, and it has plans to add one more fashion private label in western wear in the next few weeks.
The company has been focusing on exclusive brands as well, it is said to have doubled its exclusive brands up from 15-20 last year to almost 50 this year, added report.
“Our standalone market share is 35% and we are confident that we will exit BBD this year with 5% gain in market share,” said Rishi Vasudev, Flipkart’s fashion head. “We are looking at doubling our GMV from last year’s sale to this year’s sale.”
Flipkart’s fashion category crossed over $1 billion in sales during FY18. The company is looking to rival Amazon with its group of companies Myntra and Jabong by $1.7 billion expected sales this fiscal year (FY19).
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As for smartphones, Flipkart aspires 40 percent of overall market share by 2020. The company has already said it has seen strong growth in handset sales on its platform and aims to touch 40 percent market share by 2020 as part of its ‘Mobiles 40by20’ strategy.