“Flipkart Smart Buy is the first brand that we’re launching in the private label space. We’re starting with electronic accessories, mobile cases, power banks, speakers and parallelly we will be launching a range of home plastics as well. Phase two of Flipkart Smart Buy would be personal care appliances,” said Adarsh Menon, head of Flipkart’s private label business.
Flipkart’s private label push comes at a time when it is struggling to raise fresh funds at a valuation it wants, hurting its efforts to effectively compete with deep-pocketed rival Amazon. Morgan Stanley, a small but strategic investor in the company, marked down its valuation to just $5.58 billion, from a peak of $15 billion last year.
Flipkart isn’t the only large e-commerce player to be experimenting with private labels. Rival Amazon too has its own brands such as Symbol and Myx in the fashion space, apart from Amazon Basics in the electronic accessories market.