E-commerce giant Flipkart is planning to shut down eBay India in coming weeks. According to the announcement, the company has set August 14, 2018, as the last date to stop all transactions on the website. According to the report by The Economic Times, that is not all as Flipkart is planning to launch a new platform where customers or companies can sell their refurbished items. If you are an eBay loyalist thinking that the loss of the platform in India is a blow to the e-commerce sector, it is worth noting that the company plans to relaunch its India operations.
As per the report, Kalyan Krishnamurthy, the CEO of Flipkart sent out an email to his employees adding, “Based on our learnings at eBay.in, we have built a brand new value platform launching with refurbished goods – a large market which is predominantly unorganized.” The email went on to state that Flipkart is confident that with the help of its customer base along with F1 Info Solutions & Services, it will be able to crack the refurbished market. To provide some context, Flipkart purchased eBay India from the parent company last year while operating the company through a partnership.
Back in May, eBay announced that it will be ending its partnership with Flipkart India to relaunch its Indian operations with “focus on cross-border trade”. As part of the announcement the company added, “Following the close of the transaction, we also will be ending our current strategic relationship with Flipkart, which includes unwinding our commercial agreements with Flipkart and terminating Flipkart’s license to use the eBay.in brand” as mentioned in the report.
As part of winding down of the operations, Flipkart wants “to ensure” that all the sellers and customers from eBay India shift to its new platform “over time”.
Source : BGR