With mega investment worth $2.5 billion from SoftBank in its kitty, Flipkart is moving ahead to grow and invest some of its high margin sectors since it confirms its rivalry with Seattle-based Amazon to win the battle of ecommerce in the country.
Apart from all this list is its TV category. Flipkart is seeking to develop its share in the market in the TV segment by more than 3x by March 201 8 to 20%.
“For the TV segment, we presently have 6–7% of the entire market comprising offline and online (channels). In the forthcoming festive period, we need to hit high 2-digit development,” said the head of large appliances at Flipkart, Sandeep Karwa, to the media at an interview. “By the end of March 2018, we need to maintain 20% of the entire share in the market,” Karwa further added to his statement.
A lion’s share of this development will arrive from the trades of Vu Televisions. Vu Televisions is an exclusive associate for the ecommerce company making 35–40% of the share in the revenue of the TV category. This might mean that Vu Televisions may form 8% of the whole share in the market by end of March 2018, taking itself to the number 4 or 3rd place in the market, as per the firm.
Vu Televisions has gained hugely from focus of Flipkart to boost the growth in the large appliances segment this year. This decision witnessed the brand record 200% growth in the initial 2 Months of fiscal year 2018 with incomes crossing Rs 80 Crore at the time of Big 10 sale of Flipkart in May. “We have developed 150% in the H1 of 2017 with Flipkart. We closed fiscal year 2017 with incomes of almost Rs 480–500 Crore of which 70% arrived from Flipkart,” claimed the CEO of Vu Technologiesm, Devita Saraf, to the media in an interview.
With Vu Televisions making significant contribution to the achievement of TV sales for Flipkart, the ecommerce company is not afraid from discovering an equity purchase in the television producer. On the other hand, it clarified that nothing is in the plate in the near future.