Flipkart to grow 60 per cent this year

13th September 2021, Mumbai:

Flipkart estimates, it will grow by 50-60 per cent this year. The e-commerce company hopes to benefit from the increasing adoption of online commerce. Last calendar year, Flipkart clocked in a gross merchandize value (GMV) of around $15 billion.

Currently it is on an annualized GMV run rate of $23 billion. Flipkart’s GMV run-rate for this year indicates more than 50 per cent growth year on year for company even as the sector remains in a policy flux.

Of the current annualized GMV, around $20 billion is estimated to be from Flipkart while the rest is from its fashion focused platform Myntra. A report by wealth management firm Bernstein says, excluding Myntra, Flipkart clocked in GMV of around $12.5 billion in calendar 2020 while Myntra clocked $2 billion.

The same report said its rival Amazon India clocked in a GMV of around $11.5 billion during the year. According to Arpit Mathur, Partner, Kearney, the gap between Flipkart and Amazon India would continue to narrow on a standalone level but Myntra’s acquisition would help the former’s GMV base.

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