A decade ago, Sachin Bansal and Binny Bansal were two twenty-somethings with a dream open an online bookstore. Neither they nor the rest of India could have guessed that this infant retailer, would go on to dominate Indian e-commerce. Flipkart did just that. In November 2017 the retailer was declared the most trusted brand in e-commerce for Indian consumers by a study conducted by research firm RedSeer Consulting.
Today, the company is valued at over $11 billion, hosts about 100,000 sellers, has a registered user base of around 100 million people, boasts 80 million products, and is locked in a brutal battle for domination with Amazon.
Announced in December 2016, Flipkart’s first private brand SmartBuy officially launched January 2017. Starting off with just electronics and mobile accessories, in the course of the year, SmartBuy extended into adjacent categories including personal audio, home furnishings, appliances, personal grooming, and fashion. The launch was quickly followed by 3 more brands:
- Billion: which focuses on the unique needs of Indian consumers.
- Perfect Homes: home décor and furniture
- MarQ: appliances and electronics
The year ended with the launch of Flipkart’s first smartphone under the Billion brand, the Billion Capture+.