The country’s biggest e-commerce company Flipkart is all set in the news these days. A couple of days back, we heard about the merger between Myntra and Flipkart, India’s two biggest e- commerce companies. Flipkart is into many categories whereas Myntra is focused on fashion e-tailing. Flipkart has 50% market share and Myntra holds 30% Market share. Flipkart had acquired Myntra for around Rs 2,000 crore to create an entity with annualized sales of $1.5 billion. The deal is justified according to the statistics produced by both the firms. The other e-commerce companies will have to come out with new strategies to maintain the existing customer base.
The recent update from Flipkart is about leasing office space in Bangalore. It has leased out 1, 52,000 square feet of commercial office space across three locations in Bangalore as a move to expand its operations. The new office will function as a back office for the company and will be used for developing new application, order processing apart from incubating new ideas. The following are the leased spaces:
106,000 sq ft in Mantri Commercio
37,674 sq ft in Salarpuria Tech Point
9,000 sq ft in Brigade Court
Flipkart and Myntra are still functioning as separate entities, but are looking to scale fashion business jointly. The two firms together have 26 million registered users with 5.2 million daily visitors which is the highest so far in the country. The e-commerce is booming as people are internet addict and hunt for all the solutions over the net. The deals are very economical compared to the real market along with the time management factor.