With this acquisition, Flipkart will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones.
Flipkart Group has acquired electronics recommerce firm Yaantra to enhance its after sale offerings for its consumers in the smartphone segment, the company said in a statement on January 13.
The company did not disclose size of the deal.
Incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, Yaantra, repairs and sells refurbished consumer tech products such as smartphones and laptops. With this acquisition, Flipkart will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones.
The recommerce market in India is growing at a rapid pace. However, the Indian smartphone refurbishment market is largely unorganized and fragmented, which has posed trust and convenience issues for end consumers. With the acquisition of Yaantra, Flipkart will enable greater access to affordable refurbished smartphones, offering value and convenience for the end consumers.
Following this acquisition, Yaantra’s team will report to Prakash Sikaria, senior vice president of Flipkart.
“India is one of the fastest-growing markets for electronic goods, with smartphones being one of the most in-demand. There is a large set of consumers who aspire to own branded devices, but prices are sometimes prohibitive. This is where Yaantra fits in perfectly. Their recommerce value chain and refurbishment capability will allow Flipkart to create a very meaningful recommerce offering. This will not only help us further our commitment to addressing consumer needs, but also reduce the negative impact of overproduction on the environment, considering our strong focus on sustainability,” said Prakash Sikaria, senior vice president, growth and marketing, Flipkart.
Mobile phones happens to be one of the strongest categories for e-commerce companies including Flipkart. During the Diwali festive sale last year, this category witnessed sale worth Rs 68 crore every hour, according to data released by consultancy firm Redseer.
