Flipkart is witnessing an order growth rate of 20-25% and is on track to take it to 30% by this June, CEO Kalyan Krishnamurthy said at a company town hall meeting on Monday.
Highlighting the performance of its fashion business across Flipkart and Myntra, he said the segment accounts for close to 40% of the company’s new customers.
And, its hyperlocal quick-commerce business Minutes is growing robustly, adding two stores every day. Flipkart is targeting 800 dark stores by the end of this year as it expands its quick commerce footprint to compete with players like Blinkit, Instamart, Zepto, and Tata’s BBNow. Market leader Blinkit reached 1,301 dark stores by the end of Q4FY25, while Swiggy Instamart’s dark store count reached 1,021 during the same period. Zepto operates around 950 dark stores, according to industry insiders.
Speaking at the internal ‘Flipster Connect’ event, Krishnamurthy also highlighted the evolution of the grocery business, noting how the model has been pivoted over time to keep pace with customer needs and compete effectively in the quick commerce space. The company has been focusing on offering essentials and grocery items to strengthen its position in this competitive segment.
The travel vertical has emerged as another growth driver, with Krishnamurthy pointing to an opportunity among 400 million Gen Z users who like to travel. The company has renewed its focus on the hotel business as well as tour packages and international travel through its Cleartrip platform, he added.
On the social commerce front, the CEO acknowledged ongoing work on Shopsy, with efforts being made across the board on selection to enhance the platform’s appeal.
Beyond operational growth, Krishnamurthy outlined several strategic initiatives. The company has increased its investment in artificial intelligence sixfold this year as part of its future-readiness strategy.
Significantly, Krishnamurthy confirmed that Flipkart has begun the process to shift its legal domicile back to India, calling it a key move to align with the country’s economic and regulatory environment. “As we’ve initiated the flip back of the company, I am very confident that all of us will continue to focus on profitability with a renewed emphasis on customer centricity,” he stated.
The CEO also provided updates on the company’s IPO preparations, noting that substantial groundwork has been completed over the past 12 months. The company’s fintech arm, super.money, has been on a high growth trajectory with several successful launches and strong product innovation, he added.