Flipkart has set its sights on the fashion segment to boost sales during the upcoming festive season. The e-retailer is currently focusing on private labels to grow its market share in the online fashion sector. Flipkart has enhanced the portfolio of exclusive brands. Last year, the number of exclusive brands was 20 which has grown to 50 now.
The company launched three fresh exclusive fashion brands and is expecting to cover 50 per cent of the overall Indian online fashion market’s gross merchandise value during the upcoming five-day-long sale. During last year’s sale, Flipkart’s exclusive fashion brands accounted for 20 per cent of total sales made on the platform. This year, the numbers are expected to soar up to 40 to 60 per cent.
The e-retailer’s fashion segment is at present recording a 60 to 70 per cent surge and, if the company manages to keep up this rate, it is expected to reach 100 per cent in future. Flipkart is set to launch its sixth private fashion brand, which will offer western outfits.
Forty per cent of the new customers Flipkart acquires are acquired through fashion as a category. All the other categories contribute 60 per cent put together.