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08-23-2016, 03:56 PM
Amazon outstripped Flipkart as India's biggest online retailer: Report
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India's local poster boy of online retail, Flipkart, has a big problem. A $5 billion big problem to be precise.
SEE ALSO: Amazon will invest $3 billion in India, its fastest-growing market: Jeff Bezos (http://mashable.com/2016/06/08/amazon-india-3-billion-investment/)
Amazon India may have surpassed Flipkart to become the biggest online retailer in the country last month. This comes weeks after Seattle-based company’s boss an**unced that he will be investing an additional $3 billion in India, making the total investment in the country to $5 billion dollars in three years.
Amazon India had better gross sales in the month of July, reports Livemint citing five people with k**wledge of financial numbers. The American company's Indian subsidiary had gross sales (value of goods sold) of over Rs 2,000 crores, a figure that Flipkart missed. However, when gross sales from Flipkart-owned Myntra, and recently acquired fashion company Jabong (http://mashable.com/2016/07/26/flipkart-myntra-acquires-jabong/) are taken into consideration, the Indian company is still at the top, the report added. Read more... (http://mashable.com/2016/08/23/flipkart-amazon-india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Flipkart (http://mashable.com/category/flipkart/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), India (http://mashable.com/category/india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Amazon (http://mashable.com/category/amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/8ypyx1xvbdU
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India's local poster boy of online retail, Flipkart, has a big problem. A $5 billion big problem to be precise.
SEE ALSO: Amazon will invest $3 billion in India, its fastest-growing market: Jeff Bezos (http://mashable.com/2016/06/08/amazon-india-3-billion-investment/)
Amazon India may have surpassed Flipkart to become the biggest online retailer in the country last month. This comes weeks after Seattle-based company’s boss an**unced that he will be investing an additional $3 billion in India, making the total investment in the country to $5 billion dollars in three years.
Amazon India had better gross sales in the month of July, reports Livemint citing five people with k**wledge of financial numbers. The American company's Indian subsidiary had gross sales (value of goods sold) of over Rs 2,000 crores, a figure that Flipkart missed. However, when gross sales from Flipkart-owned Myntra, and recently acquired fashion company Jabong (http://mashable.com/2016/07/26/flipkart-myntra-acquires-jabong/) are taken into consideration, the Indian company is still at the top, the report added. Read more... (http://mashable.com/2016/08/23/flipkart-amazon-india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Flipkart (http://mashable.com/category/flipkart/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), India (http://mashable.com/category/india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Amazon (http://mashable.com/category/amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/8ypyx1xvbdU