In an attempt to foray into the food retailing business, Flipkart, India’s celebrated e-commerce platform and a unicorn, has registered a new entity called ‘Flipkart FarmerMart,’ reported ET.
Flipkart FarmerMart will retail food products, manufactured and produced in India through offline and online distribution and set up infrastructure throughout India for efficiently undertaking retailing of food products in India.
“The board approval to obtain the license is in paving the way for Flipkart to formally submit its food license application,” said a person aware of the matter.
Flipkart is based out of Bengaluru, founded by Sachin Bansal and Binny Bansal together in 2007. The company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.
A top company executive at Flipkart said that this newly formed entity has received a board approval to go ahead with its application, a decision which was taken during Flipkart’s board meeting held in Singapore last month.
The new entity was incorporated on October 4 and is structured as “limited by shares”, according to the sources.
Some of the other ace players under the similar roof include Amazon, Snapdeal, Myntra, Bewakoof, Jabong, among more.
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