Flipkart Receives Rs 2,839 Crores From Its Singapore Based Parent Ahead Of End Of Season Sales
Flipkart purchases goods from local manufacturers and brands in India in bulk amounts and sells them to undisclosed partners and proffered sellers. Its intention is to put an end to regulatory pricing in the Indian marketplace, which was imposed back in February. The Government of India had restricted online marketplaces to own their sellers and prohibited them from controlling their inventories, back in December 2019.
The investments have come at the correct time as Flipkart is preparing for its end of the year season sales known by the name `Big Shopping Days'. In the previous such season sale of October festival season both Amazon and Flipkart managed to achieve a combined sales of Rupees 31,000 Crores, with Flipkart accounting for 64 percent of their combined sales income even though Amazon fares higher in Net Promoter Score(NPR).