In a bid to expand its product portfolio, Flipkart is planning foray into the grocery space, according to a new report from Reuters. The homegrown e-tailer will also re-enter into furniture business, added the report.
Flipkart Chief Executive Binny Bansal said Flipkart will start experimenting with grocery sales in 2017 and scale-up its operations over a period of three years. “There’s definitely room to build a profitable grocery business, but it’s hard. That doesn’t mean it’s not possible, but it’s hard”, said Bansal. Flipkart’s biggest rival Amazon India currently deals in groceries in select cities. Earlier in February, Flipkart pulled the plug on its hyperlocal service Nearby. Bansal said Flipkart will still focus on fashion and it will remain Flipkart’s best selling category for the next few years, but online has the potential to grow as big as fashion and electronics in the next six to eight years.
Flipkart will also relaunch its furniture store with more variety in the next three to four months. The company even aims to provide furniture assembly services that are key to making headway in this segment. Furthermore, Bansal said that Flipkart would consider going public in the next two to four years.