Flipkart is reportedly planning to acquire fashion portals Zovi and YepMe as it seeks to increase sales of high-margin products. If the deal is successful, this acquisition will be the second in two years for the online retailer, says a media report.
Last year, Flipkart raised equity funding of Rs 2,200 crore. Sachin Bansal, Co-founder, Flipkart said that 2014 will be an important year for the company and he expects sales of $1 billion, about Rs 6,200 crore, by 2015.
Flipkart was launched in 2007. Currently, it sells various categories such as books, perfumes, apparels, toys, home appliances and electronics, mobiles, healthcare and personal products, music, games, cameras, computers, stationery, movies, and shoes.