The Financial Express
06 September 2017
Home-grown e-commerce firm, Flipkart, under an exclusive tie-up with apparel brand Peter England which is part of Madura Fashion and Lifestyle (a division of Aditya Birla Group) has launched a new sub-brand, Peter England University.
The new clothing range which will be sold only on Flipkart will be priced anywhere in the range of Rs.1,000-Rs.1,500. “We decided to take a step beyond just selling regular brands and private labels by creating special clothing range for consumers. This will not only allow us to earn better margins, we will also be able to acquire new set of online consumers,” said Rishi Vasudev, head, Flipkart fashion.
According to industry estimates, of the overall gross merchandise value worth $5.5-$6 billion, which Flipkart generates every year, fashion and lifestyle products contribute to $1-$1.15 billion. The average ticket size of fashion and lifestyle products sold on the online portal ranges between Rs.700 and Rs.900.
Dr. Pragnya RamGroup Executive President, Corporate Communications & CSRAditya Birla Management Corporation Private LimitedAditya Birla Centre, 1st Floor, 'C' WingS.K. Ahire Marg, WorliMumbai 400 030.
91-22-6652 5000 /2499 5000
Fax: 91-22-6652 5741/ 42