Flipkart Set Its Sight To Achieve $8 Billion In Three Years

By siliconindia | Thursday, 12 February 2015, 13:40 Hrs

BANGALORE: E-commerce has changed our life drastically and firms like Flipkart have a big role to play in this change. The organization has made an Indian mark across the globe securing a place in the list of multi-billion dollar entities, reports The Economic Times.

Flipkart ahead in competition Flipkart leads the e-commerce industry in India today. Last year the company witnessed a turbo-charged growth propelling it to $ 1 billion club. This huge success has helped Flipkart to evolve as trendsetters making it big globally.

The last year has been frenetic at the company, despite that it has not given up in the bruising marketshare battle against the giant Amazon. Presently, Flipkart has come out with its sky high targets and estimates to hit the $ 8 billion mark in three years. This estimate would be twice the value of products it sells. The company would make itself quite ahead in the competition which has sent alerts to the counterparts- Amazon and Snapdeal.

“Flipkart is likely to achieve the figure by either shooting up the gross merchandise values or the cost of the products available on the site,” stated Sachin Bansal and Binny Bansal at the townhall meeting with their employees.

"Flipkart has set a target to reach $8 billion in GMV in 2015 and add 100,000 sellers on its platform. It also expects to sell about 25 million products per month by the end of this year," they added.

India’s largest e-commerce platform also aims to sell one billion products by 2017.

Flipkart’s current sales figure is approaching $ 4 billion sailing ahead of Amazon and Snapdeal who are at $1 billion and $3 billion respectively.

Analysts have a view that ecommerce in India would reach to $76 billion by 2021.