Placeholder canvas

‘2017 will be a defining year for Flipkart,’ says Sachin Bansal

Date:

Amid a major reshuffle in the top brass, e-commerce giant, Flipkart, is looking forward at a great year ahead as co-founder Sachin Bansal had said:

2017 will be a defining year for Flipkart as the company is looking to take “decisive lead” in the Indian market.

The company,  said the restructuring is aimed at “improving operational efficiencies”.

ALSO READ: IRCTC launches new App for faster booking of tickets

Earlier this week, in a major restructuring, Flipkart brought all its units under an umbrella firm and elevated Binny Bansal as the Group Chief Executive Officer. Kalyan Krishnamurthy, previously head of Category Design Organisation, has been appointed as the CEO of Flipkart. Sachin Bansal will continue as executive chairman.

“Its (restructuring) is about improving operational efficiencies so that we can execute on our plan…Business is getting bigger…Binny moves to a bigger role to ensure there is more focus,” Sachin Bansal said on the sidelines of Vibrant Gujarat Global Summit.

The India’s largest e-commerce firm is locked in an intense battle with one of the world’s largest e-tailers, Amazon, in the Indian e-commerce market. The company has raised over USD 3 billion so far from investors like Tiger Global, Naspers and Accel Partners among others.

ALSO READ: Binny Bansal replaced by Kalyan Krishnamurthy as the new CEO of Flipkart

Asked if Flipkart is looking at another round of funding at a time when rival Amazon has been pumping in billions of dollars to strengthen its position in the Indian market, he said there are “no such plans right now”.

Bansal said that sales season has been defining for the company. “It has turned around things for us…Given a positive momentum,” he said.

He said the company will ensure that customers continue to get differentiated and great experience on the Flipkart platform.

Bansal said that demonetisation (scrapping of old Rs 500 and Rs 1,000 notes) that lead to a spurt in digital transactions, has been “good” for the company. “We are seeing a lot of growth in digital transactions. Cash transactions have come down and digital transactions have gone up,” he said.

(With PTI inputs)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Fact Check: Mohan Bhagwat-Led RSS NOT Supporting INDIA Bloc

A video alleging that the Rashtriya Swayam Sevak Sangh...

India’s ‘Election King’ Prepares For 239th Bid Despite Record Of Defeats

New Delhi: K Padmarajan, a 65-year-old tyre repair shop...

Robert F. Kennedy Jr Chooses Nicole Shanahan As His Running Mate For 2024 Polls

Nicole Shanahan, 38 is a California lawyer and philanthropist, and brings fresh energy to Kennedy Jr's bid, focusing on issues such as women's reproductive science, criminal justice reform and environment

US Reiterates Call For Fair Legal Process On Kejriwal’s Arrest; Mentions Cong’s Frozen Accounts

New Delhi: The United States reaffirmed its stance on...