Homegrown e-tailer Flipkart is planning to invest heavily on its fashion vertical to push the business in the segment. The company wants to make sure that one in every five fashion products they sell will be exclusive to the platform.
The ecommerce 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.
The development comes soon after Flipkart announced that it closed the financial year 2017-18 with a business of over $1 billion.
“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.
Roping in exclusive brands has been a trend in ecommerce sector for last few months. Ecommerce biggies in the country have been widely adopting this strategy to push their business. This move is likely to catalyze the competition in the segment.