Bengaluru based ecommerce platform Flipkart is reportedly planning to come up with its own brick and mortar shop and will kick off its venture into physical retail with a master franchisee for various foreign brands in the Indian market. The Sachin Bansal, Binny Bansal led firm is now planning to sell foreign brands through its stores and sublicense its offline business. As per a report by Business Insider, the company is in early-stage talks with Giordano in order to get a licensing deal to sell products offline and online in India.
It is being said that online retailer has been planning to set up stores for a long time now. With the current slowdown in Indian e-commerce space with shrinking discounts and the missing touch and feel factor, Flipkart’s recent plan will surely give it an edge over its rivals including Snapdeal and Seattle-based online retailer Amazon’s India wing.
However, this is not for the first time that an online retailer is planning to come up with its brick-and-mortar store. Companies like Lenskart, Urban Ladder, Nykaa, Pepperfry and others already have their stores operational in the market.
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Earlier this month, when Prime Minister Narendra Modi announced the launch of Goods and Services Tax (GST), Flipkart started delivering mobile phones to all cities of Uttar Pradesh and Bihar. Prior to the launch of the new tax regime, Flipkart used to deliver phones under Rs 5,000 to some select cities of Uttar Pradesh and Gujarat and did not deliver in any city of Bihar, according to a report by Inc42. Soon after making the announcement, the company said that there were some issues restricted its businesses in these states.