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.
TOP 5:
- Vedant Fashions (Manyavar), an Indian ethnic wear company, has filed draught documents for an initial public offering (IPO)
- Aditya Birla Fashions aims for a revenue of Rs 25,000 crore by 2026
- States will compete for a place in the MITRA textiles initiative
- Coutloot receives $8 million in investment from Ameba Capital and other investors
- Akaaro, founded by Gaurav Jai Gupta, has launched a wedding collection
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