BANGALORE: Flipkart has launched its own fashion brand and could also
acquire another online apparel company as it seeks to increase sales of
high-margin products on its portal.
Among the companies most likely to be under consideration are two fashion portals, Zovi and YepMe, which sell exclusively on the web. "They have reached a scale that will interest Flipkart," said a person with direct knowledge.
If successful, this acquisition will be the second in two years for India's largest online retailer which bought electronics portal Letsbuy in 2012. Last year, Flipkart raised equity funding of Rs 2,200 crore, creating a pool of capital that it can dip into for possible acquisitions.
Sachin Bansal, co-founder of Flipkart, declined comment, only saying "2014 will be an important year for us". His company expects to record sales of $1 billion, about Rs 6,200 crore, by 2015. "This will mean looking at private labels and also opening up our marketplace to more and more sellers," he said.
Among the companies most likely to be under consideration are two fashion portals, Zovi and YepMe, which sell exclusively on the web. "They have reached a scale that will interest Flipkart," said a person with direct knowledge.
If successful, this acquisition will be the second in two years for India's largest online retailer which bought electronics portal Letsbuy in 2012. Last year, Flipkart raised equity funding of Rs 2,200 crore, creating a pool of capital that it can dip into for possible acquisitions.
Sachin Bansal, co-founder of Flipkart, declined comment, only saying "2014 will be an important year for us". His company expects to record sales of $1 billion, about Rs 6,200 crore, by 2015. "This will mean looking at private labels and also opening up our marketplace to more and more sellers," he said.
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