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Flipkart to create 10,000 millionaires in 2015

Tags: Flipkart, SME, marketplace, e-commerce, National Institute of Fashion Technology, Ministry of Labour and Employment, Govt of India

January 14, 2015 | COMMENTS ( 0 )

Flipkart to create 10,000 millionaires in 2015

Flipkart, India's largest e-commerce marketplace, announced that their platform will create over 10,000 millionaires in 2015. The year 2014 saw over 2,000 sellers become millionaires through Flipkart sales. December 2014 alone saw over 500 sellers doing an average business of Rs 10 lakhs each while 50 sellers did an average of Rs 1 crore each.

With a year on year growth of close to 30 per cent, apparels and consumer electronics categories have the most number of sellers who have crossed the millionaire mark followed by sellers of home décor, jewellery, handicrafts and large appliances.

Nearly 60 per cent of the millionaire sellers came from the metro cities (Delhi, Mumbai and Bangalore) and the remaining are from the tier 2 and 3 cities. 2015 projections estimate that the numbers from the latter will double.

These numbers are a validation of Flipkart' focus on enabling and empowering sellers and entrepreneurs across India. Flipkart is taking several steps with the aim to help sellers create and expand their brands through workshops/sessions, SME training programmes, Working capital assistance, and Marketing support services like packaging, cataloguing to sellers.

Commenting on this milestone, Ankit Nagori, SVP- Marketplace, Flipkart said, "We are happy to announce that the Flipkart marketplace has helped create 2000 millionaires amongst the sellers on our platform in 2014. Over the last two years we have worked towards enabling sellers across the country to adopt the e-commerce marketplace model to grow their businesses. It's a huge motivation to see this tenfold growth amongst our sellersand the success they are seeing on our marketplace.We will continue in our efforts to better the Indian marketplace ecosystem so that sellers from even the most remote parts of the nation can benefit from this business model."

Ankit further added, "We are confident that 2015 will see more sellers join the e-commerce ecosystem, thus creating at least 10,000 more millionaires within the Flipkart marketplace, especially from the tier 2 and 3 cities in India."

Last year Flipkart has also partnered with government bodies like Federation of Indian Micro and Small & Medium Enterprises (FISME), and signed a Memorandum of Understanding (MoU) with Director General - Employment & Training (DGET), National Institute of Fashion Technology (NIFT), Ministry of Labour and Employment, Govt of India, to help Indian MSMEs leverage the online marketplace platform to scale their businesses by supplementing their employee requirements and upgrading their skills.
 

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