Flipkart buys recommerce firm Yaantra

Flipkart on Thursday announced the acquisition of Yaantra, an electronics recommerce company, to strengthen its recommerce business and enhance after-sale offerings for its customers in the smartphones segment.

Yaantra, incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, is a firm that repairs and sells refurbished consumer tech products such as smartphones and laptops.

With this acquisition, Flipkart would provide a comprehensive service ecosystem to its customers that take care of the entire lifecycle of smartphones. The buyout would enable the e-tailer greater access to affordable refurbished smartphones for its customers, said the company in a statement.

Prakash Sikaria, Senior Vice President- Growth & Marketing, Flipkart, said, “India is one of the fastest-growing markets for electronic goods, with smartphones being one of the most in-demand. There is a large set of consumers who aspire to own branded devices, but prices are sometimes prohibitive.’’

Jayant Jha, Co-Founder & Chief Executive Officer at Yaantra, said, “At Yaantra, we have been able to successfully drive the smartphone recommerce to the next level with our deep understanding of the sector and technology. We believe the association with Flipkart will prove to be a game-changer in making the Indian refurbished market success and creating an even better experience for our consumers.”

Source: Read Full Article