Flipkart has been in the sandals business for decades, for example, what has made the company so famous is its high-quality high-heeled sandals in India. Recently, Flipkart is known as the best Indian footwear company.
Flipkart is a privately held Indian e-commerce company headquartered in Bangalore. The company is officially established in Singapore as a private limited company.
Online sale of sandals was the main focus of this company at the beginning of its launch. However, it later branched out into other product categories, including consumer electronics, fashion, home basics, food, and lifestyle items.
The main competitor of this service is Snapdeal, the Indian affiliate of Amazon, which is also a domestic competitor. As of March 2017, Flipkart maintained a market share of 39.5% in the e-commerce segment of the Indian economy.
As a result of Flipkart’s acquisition of Myntra, the company now has a prominent position in the apparel industry.
In addition, reports suggest that the company is “neck-to-neck” with Amazon in terms of sales of mobile phones and tech goods. Flipkart also owns mobile payment provider PhonePe, which is based on the UPI protocol.
A controlling 77% stake in Flipkart was acquired by American retailer Walmart for $16 billion in August 2018, valuing Flipkart at around $20 billion.
So why are high heels sold on Flipkart? Women use sandals more than any other type of shoe, although high heels are one of the most popular shoe styles for them.
They have a toe opening, are easy to put on, are comfortable, are of high quality, fit well, protect the feet and have several other desirable features. What are you waiting for, simply go out and get a pair, and it will make your summer days that much more enjoyable.
On November 19, 2019, Flipkart invested Rs 4 crore in consumer engagement and rewards platform EasyRewardz. Wholesaler Flipkart has introduced a digital platform that specifically caters to the needs of kiranas and other small and medium enterprises.
Flipkart spent $35 million to acquire a 27% stake in the recently established subsidiary of Arvind Youth Brands known as Arvind Fashions Limited. Flying Machine is a brand owned by Arvind Youth Brands, a retailer.
Additionally, Flipkart announced the launch of Flipkart Quick, a hyperlocal delivery service that delivers within 90 minutes for a variety of products including groceries, home furnishings, mobile phones, stationery and more.
Flipkart paid a total of $204 million to acquire a 7.8% stake in Aditya Birla Fashion & Retail in October 2020. The following month, Flipkart paid an undisclosed amount to acquire the intellectual property of Mech Mocha, a gaming company.
Offering casual games was a key component of Flipkart’s strategy to both attract new users and retain existing users. Flipkart completed the acquisition of Scapic in November 2020.
Scapic is an augmented reality company that provides a set of tools to rapidly develop and publish augmented reality, virtual reality, and 3D content without coding.
Flipkart recently announced that it will acquire travel booking service Clear trip. Shopsy was the name of the social commerce platform created by Flipkart. Shopsey allows individuals and small businesses to market and sell goods directly to consumers through social media networks.
Shopsy first launched in December 2021 in the grocery delivery marketplace in 700 cities across India.
According to a study published in November 2014, Flipkart had a complex corporate structure that included nine separate businesses, some of which were registered in Singapore and some of which were established in India.
Flipkart’s founders sold WS Retail to a group of investors led by Rajiv Kochal in 2012. Flipkart’s Indian operations are run by a company called Flipkart Pvt. Ltd.,
which is headquartered in Singapore. Flipkart Internet Pvt. Ltd., the company behind online marketplace Flipkart.com, Flipkart India Pvt. Ltd., a wholesale business, and Flipkart Logistics Pvt. Ltd.,
that operate Ekart are some of the eight Indian companies owned by the Singapore-registered entity. Flipkart Internet Pvt. Ltd. is the company that runs the online marketplace Flipkart.com.
The initial cost he considered for the establishment of Flipkart was 400,000, which is equivalent to 5000 US dollars.
It later received funding from venture capital firms such as Accel India (which raised $1 million in 2009) and Tiger Global (which raised $10 million in 2010 and $20 million in June 2011).
On 24 August 2012, Flipkart announced that it had successfully closed its fourth investment round. In this round, the company raised a total of $150 million from MIH (which is a member of the Naspers Group) and ICONIQ Capital.
On July 10, 2013, the company announced that it had successfully secured an additional $200 million from previous investors, including Tiger Global, Naspers, Accel Partners and Iconiq Capital.
Flipkart’s logistics division, known as eKart, saw around 400 delivery managers go on strike to protest the company’s poor working conditions. These complaints included working seven days a week, long working hours, having dirty toilets and the lack of access to medical aid for injured riders.
A delivery manager named Najunda Swamy was killed by a customer who was unable to pay for his purchase due to lack of money.
In response, Flipkart introduced a new safety effort named “Project Nanjunda” in honor of the deceased executive. The mobile application has an “SOS” button that may be used by field managers in case of an emergency.
Sellers on Flipkart have faced several issues while doing business on the company’s marketplace. As a result, some of these sellers have left the web altogether.
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