eBay refocuses its strategy in India
eBay is breaking ties with Flipkart, and planning on becoming its competitor — again.
On the heels of Walmart gaining a controlling stake in Flipkart, eBay announced it is cutting ties with the leading Indian e-commerce player, a move that will enable the company to relaunch eBay India. The deal is worth $1.1 billion, according to eBay.
Through the deal, the online marketplace will unwind its commercial agreements with Flipkart, and terminate the company’s license to use the brand. eBay sold its eBay India business to Flipkart last April. While Flipkart to controlled the marketplace, eBay remained an independent e-commerce site.
By relaunching eBay India in-house, the company will focus on cross-border trade, such as selling into India from abroad, and from India to other markets. “We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market,” the company stated.
As eBay gets back into India’s e-commerce game, it will compete with Flipkart, as well as Amazon, which continues to invest in its Indian operations.
On the heels of Walmart gaining a controlling stake in Flipkart, eBay announced it is cutting ties with the leading Indian e-commerce player, a move that will enable the company to relaunch eBay India. The deal is worth $1.1 billion, according to eBay.
Through the deal, the online marketplace will unwind its commercial agreements with Flipkart, and terminate the company’s license to use the brand. eBay sold its eBay India business to Flipkart last April. While Flipkart to controlled the marketplace, eBay remained an independent e-commerce site.
By relaunching eBay India in-house, the company will focus on cross-border trade, such as selling into India from abroad, and from India to other markets. “We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market,” the company stated.
As eBay gets back into India’s e-commerce game, it will compete with Flipkart, as well as Amazon, which continues to invest in its Indian operations.