The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Flipkart Group CEO Kalyan Krishnamurthy says the fast-growing Indian e-commerce giant is looking to the under-penetrated digital fashion market, along with scaling its loyalty program and grocery businesses, for continued growth, according to an Economic Times report.
Walmart-owned Flipkart is largely credited with the US retail giant’s 5.5 percent growth in international sales to $34.9 billion in the fourth quarter of the fiscal 2021 year. After a first half interrupted by lockdowns that impacted warehousing and logistical operations across India, Walmart International President and CEO, Judith McKenna, said Flipkart’s fourth quarter gross merchandise volume (GMV) growth had surged to “roughly double” that of the full year.
Krishnamurthy, speaking during a post-earnings briefing, also said that by 2025, he expected Flipkart’s GMV to rise to $90 to 100 billion.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.