THE ECONOMIC TIMES: Sibling rivalry seems to be brewing at Flipkart Group with its primary online marketplace trumpeting that its fashion category has crossed $1 billion in sales this fiscal year. That leaves the group’s fashion-focused arms, Myntra and Jabong, trailing behind with combined GMV of $1.2 billion for the year.
Flipkart said its fashion vertical’s overall market share increased to 35% on the back of its expanded selection and exclusive offerings as well as its promise of faster deliveries. The firm claims to have witnessed robust growth from tier-II plus markets as well as the metros, with the former contributing at double the pace.
To put things in perspective, the Indian fashion industry clocked gross sales of about $2.8 billion in 2016 and was pegged at $3.1 billion for 2017, as per data from RedSeer Consulting.
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