YOURSTORY: A year after getting a new CEO, it is not all ‘kalyan’ on the Flipkart front
YOURSTORY: The year gone by was a good one for Flipkart – at least at first glance. But scratch the surface and the façade shows many holes. Flipkart and its CEO, Kalyan Krishnamurthy, have a major task ahead as competition is only getting stronger and bringing the next set of customers online is not proving to be easy.
When a company raises a staggering almost-$4 billion in funding in a single year, you would think the firm’s CEO will not have to worry about anything for quite some time. Unfortunately, considering the milieu that Flipkart operates in, CEO Kalyan Krishnamurthy does not have the luxury to relax.
Flipkart has definitely found deep-pocketed backers in the form of SoftBank and Tencent, among others. If 2016 was all about Flipkart losing market share to Amazon, 2017 saw the company regaining, just about, its leadership position especially during the high-visibility, end-of-the-year sale events. According to data from advisory firm RedSeer Consulting, Flipkart Group (including Myntra and Jabong) captured 58 percent of the market during the September Diwali sales period, versus Amazon’s 26 percent. In a conversation with YourStory at the conclusion of the Big Billion Days 2017, Kalyan had claimed Flipkart had captured 70 percent market share each in fashion, mobiles and appliances.
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