Flipkart acquires electronics recommerce company Yaantra for undisclosed amount
The recommerce market in India is growing at a rapid pace. However, the Indian smartphone refurbishment market is largely unorganized and fragmented
PremiumThe Flipkart Group today announced that it acquired electronic recommerce company Yaantra for an undisclosed amount.
The acquisition, Flipkart said, will strengthen its recommerce business and enhance after-sale offerings for its customers in the smartphones segment.
Yaantra, incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, is a leading brand that repairs and sells refurbished consumer tech products such as smartphones and laptops.
With this acquisition, Flipkart said it will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones.
As part of the acquisition, Yaantra will help Flipkart build capabilities in this domain and accelerate its recommerce scale-up plans. The business will report to Prakash Sikaria, Senior Vice President and Head of Flipkart’s growth charter.
The recommerce market in India is growing at a rapid pace. However, the Indian smartphone refurbishment market is largely unorganized and fragmented, which has posed trust and convenience issues for end consumers.
With the acquisition of Yaantra, Flipkart will enable greater access to affordable refurbished smartphones, offering value and convenience for the end consumers.
Ravi Iyer, Senior Vice President and Head - Corporate Development, Flipkart, said, “At Flipkart, we continuously strive to find new ways to be more relevant to consumers and address the growing consumer internet ecosystem in India. This approach includes strategic acquisitions and investments that broaden the scope of our current offerings for customers to become the one-stop destination for their digital needs. Through the acquisition of Yaantra, we are
enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion."
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