Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Flipkart aims to create 10,000 ‘millionaires’ in 2015
BackBack

Flipkart aims to create 10,000 ‘millionaires’ in 2015

Flipkart is taking steps such as hosting training workshops, offering capital assistance to sellers to help them create and expand their brands

Nearly 60% of millionaire sellers came from metros (Delhi, Mumbai and Bangalore) and the rest from the non-metros, Flipkart said. Photo: MintPremium
Nearly 60% of millionaire sellers came from metros (Delhi, Mumbai and Bangalore) and the rest from the non-metros, Flipkart said. Photo: Mint

Bangalore: E-commerce firm Flipkart on Tuesday said it aims to help over 10,000 sellers generate business worth 10 lakh through its platform this year.

“In 2014, Flipkart helped over 2,000 sellers become millionaires through Flipkart sales. December 2014 alone saw over 500 sellers doing an average business of 10 lakh each, while 50 sellers did an average of 1 crore each," Flipkart said in a statement.

With a year-on-year growth of close to 30%, apparels and consumer electronics categories have the most number of sellers who have crossed the millionaire mark followed by sellers of home decor, jewellery, handicrafts and large appliances.

Nearly 60% of millionaire sellers came from metros (Delhi, Mumbai and Bangalore) and the rest from the non-metros, it said. “2015 projections estimate that the numbers from the latter will double," the statement added.

Flipkart said it is taking several steps such as hosting workshops/sessions and SME training programmes, offering working capital assistance and providing marketing support services such as packaging and cataloguing to sellers with the aim to help them create and expand their brands.

Flipkart will continue its efforts to better the Indian marketplace ecosystem, so that sellers from even the most remote parts of the nation can benefit from this business model, Flipkart SVP (marketplace) Ankit Nagori said.

“We are confident that 2015 will see more sellers join the e-commerce ecosystem, thus creating at least 10,000 more millionaires within the Flipkart marketplace, especially from the tier II and III cities in India," Nagori said.

Last year, Flipkart partnered with government bodies such as Federation of Indian Micro and Small and Medium Enterprises (FISME), Director General – Employment and Training (DGET) and National Institute of Fashion Technology (NIFT) to help Indian MSMEs leverage the online marketplace platform.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 13 Jan 2015, 09:19 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie