Flipkart is getting ready for its Big Billion Days sale starting September 29, ahead of India’s festive season. BBD has been developed into a big brand by Flipkart over the years and this year, the target is to rake in a revenue of $3 billion in those 6 days starting September 29 and lasting till October 4.
Keeping these in view, Flipkart India, has received a fund infusions of Rs 1,616 crore from its Singapore parent, as per an Economic Times report. Flipkart India is the entity that acts as the wholesale buyer from manufacturers and seller to those sellers who go on to offer the products on Flipkart’s retail ecommerce platform. The last time the Singapore company made a similar transfer was in January this year and the amount was Rs 1,431 crore.
In its filings to the Ministry of Corporate Affairs, Flipkart India has said it has allotted 4,64,403 equity shares to its parent company at a consideration of Rs 34,800 per share.
Meanwhile, Flipkart has taken the various manufacturers and traders on its platform that it intends to use the 6-day extravaganza to bring to the customers some special products, which may be offered as Flipkart-only exclusives and has asked these brand owners to come up with their suggestions on the products they can deliver under this category. Flipkart also wants to launch products priced at Rs 49 and Rs 99 during BBD sale as a trial. Once the customers try these products they can come back and buy them at the full prices.
Other purchases from brands will include products that will be sold in the BBD brand plus offers of buy one and get one free and so on. Some products on Flipkart during BBD sale could carry hefty 70% discount.