Flipkart all set for a fashionable makeover

Online retailer Flipkart will invest heavily in its fashion vertical this year as the company wants to ensure that one in every five fashion products they sell will be exclusive to the platform. 
The homegrown player is trying to position itself as the country’s ‘fashion capital’ as they target customers from every segment to tap into the $100 billion overall fashion market in India.
“This year we have a goal that more than 20% of what sells of Flipkart has to be co-created between Flipkart and a partner or would come from an exclusive brand,” said Rishi Vasudev, who heads fashion at Flipkart. “Earlier it was not a focus area, so only some selection within fashion was exclusive to the platform.”
This development comes after Flipkart recently announced that it exited financial year 2017-18 with over $1 billion in sales. They expect this number to go up to $1.7 billion for FY19, riding on the back of exclusive offerings, co-creating products with brands, among others.
Flipkart all set for a fashionable makeover
The online fashion market, which is about 5% of the overall fashion market in India, is pegged to grow at 38.2% CAGR from 2017 to 2022, according to industry estimates.
Experts tracking the retail space believe that online commerce players like Flipkart and Amazon India are targeting fashion for the short-term growth as the share of smartphone in online retail sales is expected to go down from 45%, while the share of fashion is expected to rise from 20%. Currently fashion forms about 35% of the overall sales for Flipkart, peg analysts. 

Trending News

HCL Technologies may buy back shares worth Rs 5,000 Cr at Rs 1,150 apiece

Ola starts making money on each ride, inches closer to profitability

Zomato debuts loyalty rewards program PiggyBank

Chinese fintech major WeCash plans India foray with a consumer lending product

Former eBay CEO Simon Smith to drive Ola's operations in Australia

Lending products to form 20% of Flipkart’s growth: Ravi Garikipati

How Automation Anywhere joined the billion-dollar-plus club

Amazon to push hyperlocal app for Big Prime Day Sales

Are you a business or an entrepreneur thinking to collaborate ?

Here's how Amazon is winning the online retail game. Again.

DIY investment app Sqrrl raises $1 million

Flipkart all set for a fashionable makeover

Why Amazon’s Flipkart bid is just not high enough

Selling without MRP, expiry dates to cost etailers

TCS hits $100Bn market cap: A new phase for India Inc?

Snapdeal posts Rs 4,647 crore net loss in 2016-17

Flipkart-Walmart deal: What it means for the etailer and the whole industry

NCLAT stays CCI penalty of Rs 136cr on Google in search bias case

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities