E-retail Industry Up for New Business Collaborations, Flipkart, Walmart Collaboration Trending
Already a veteran in e-commerce, Walmart owned Flipkart is making headlines yet again with its funding of $1.2 billion from Walmart in its endeavors to pursue further advances in e-commerce.
The recent investment has spurred up Flipkart’s total investment value, pushing it to a whopping &24.9 billion.
Talking about Flipkart’s total number of assets, Flipkart boasts of having PhonePe, Myntra and eKart in its kitty.
Elaborating on its complete financial assets and growth recorded in 2020 alone, Flipkart has successfully achieved over 45% growth in terms of active customers a month and over 30% hike in customer related transactions, making it a successful entrepreneurial venture even amidst global pandemic struck by COVID-19 outbreak.
Talking about a successful venture and a rewarding year already, Kalyan Krishnamurthy, CEO Flipkart affirmed that the company is thoroughly obliged for such as robust support from shareholders, allowing the company to explore new growth opportunities, thus significantly meeting diverse needs of the customers across Asia, more specifically amidst a global pandemic that has virtually dimmed industrial activities substantially.
With Walmart investments in place, Flipkart is hopeful of bolstering its technological expertise besides registering for new commercial collaborations and portfolio expansion to move beyond their comfort zone.
The company is a stalwart in the categories of apparel, merchandise and consumer electronics. However, Flipkart now aspires to also venture into novel areas of grocery, more specifically at a time when reliance on online shopping is bound to escalate further.
Adding further, Krishnamurthy noted that expansion into novel payment models and delivery system are also on the list of immediate action to include a larger number of enthusiastic online shoppers.