One of the largest online retail giants in the country, Flipkart, is planning to double the GMV from $4 billion to $8 billion this year. Two individuals with knowledge in this situation affirmed that the company is looking forward outgrow other online retailers in the country, including Amazon and Snapdeal.
People who spoke on the condition of anonymity said that the Flipkart has a current GMV of $4 billion, which soon is expected to grow to a whopping $8 billion. GMV is an acronym to define Gross Merchandise value and is based on the monthly sales.
Flipkart aims at shipping nearly 8 billion units a month to its ever-growing base of 100 million users by the end of 2018 financial year. However, the current shipping amount is nearly 8 million units a month. The proposed estimate that is to be achieved by the end of 2018 financial year readily reflects the amount of investment Flipkart is going to make.
Flipkart is apparently the largest among online retailers operating in the country, and with the acquisition of Myntra, the company now have even more reach among people living in this country. It is without a doubt that the retail giant is among first to establish the online shopping culture in the country. Today, almost every person is having a shopping experience with them.
Flipkart current value has been estimated to have a revenue worth $1 billion. It has nearly 1500 employees and was founded the Bansal duo in the year 2007.