Billion will be a private brand from the Flipkart stable which, Bansal said, will be made for India and made in India
Flipkart's co-founder and erstwhile CEO Sachin Bansal, who'd been away from the company's day-to-day operations, is making a comeback of sorts as he unveils a set of products under the 'Billion' brand.
Billion will be a private brand from the Flipkart stable which, Bansal said, will be made for India and made in India. "There are few products or brands which have been innovated keeping in mind the core Indian masses and that was the genesis for Billion," Bansal told TOI during an interaction.
The launch of the brand comes at a time when both Amazon and Flipkart are pushing hard to expand India's online retail consumption base and bring in millions of people into the e-tailing universe.While Amazon has been diversifying its line of offerings with the launch of its membership programme Prime and focus on content, food and grocery, Flipkart is stressing on bringing in localised innovations which cater to Indian needs of the masses.
In a recent interaction with TOI, Flipkart's CEO, Krishnamurthy had said that he was confident the next 50-100 million Indian customers who will come on board the online retail market will be driven by local innovations introduced by the homegrown e-com merce company and not by a foreign player, without directly naming Amazon.
To start with, Billion will launch kitchen appliances like mixers and grinders, cookware, irons and lifestyle products such as backpacks. Bansal said the idea is to cater to the masses which will also reflect in its pricing being highly competitive. Bansal said with 100% Indian manufacturing, Flipkart was in line with the government's Make In India initiative. Bansal said their research had shown a high level of dissatisfaction that existed among consumers despite a plethora of products being in the market.
"Private brands have gained prominence but that has not resulted in other sellers losing share. They grow the overall sales on a plat form. This has happened on Myntra and I hope to see the same at Flipkart," Bansal said, referring to sellers complaining about private brands being propped up by e-commerce players compared to third-party brands.
Flipkart's co-founder and erstwhile CEO Sachin Bansal, who'd been away from the company's day-to-day operations, is making a comeback of sorts as he unveils a set of products under the 'Billion' brand.
Billion will be a private brand from the Flipkart stable which, Bansal said, will be made for India and made in India. "There are few products or brands which have been innovated keeping in mind the core Indian masses and that was the genesis for Billion," Bansal told TOI during an interaction.
The launch of the brand comes at a time when both Amazon and Flipkart are pushing hard to expand India's online retail consumption base and bring in millions of people into the e-tailing universe.While Amazon has been diversifying its line of offerings with the launch of its membership programme Prime and focus on content, food and grocery, Flipkart is stressing on bringing in localised innovations which cater to Indian needs of the masses.
In a recent interaction with TOI, Flipkart's CEO, Krishnamurthy had said that he was confident the next 50-100 million Indian customers who will come on board the online retail market will be driven by local innovations introduced by the homegrown e-com merce company and not by a foreign player, without directly naming Amazon.
To start with, Billion will launch kitchen appliances like mixers and grinders, cookware, irons and lifestyle products such as backpacks. Bansal said the idea is to cater to the masses which will also reflect in its pricing being highly competitive. Bansal said with 100% Indian manufacturing, Flipkart was in line with the government's Make In India initiative. Bansal said their research had shown a high level of dissatisfaction that existed among consumers despite a plethora of products being in the market.
"Private brands have gained prominence but that has not resulted in other sellers losing share. They grow the overall sales on a plat form. This has happened on Myntra and I hope to see the same at Flipkart," Bansal said, referring to sellers complaining about private brands being propped up by e-commerce players compared to third-party brands.
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