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CORRECTED-India's Flipkart targets $8 bln in online product sales in 2015 - sources
February 12, 2015 / 9:31 AM / 3 years ago

CORRECTED-India's Flipkart targets $8 bln in online product sales in 2015 - sources

(Corrects date in first paragraph, changes sourcing)

By Nivedita Bhattacharjee

MUMBAI, Feb 12 (Reuters) - India’s largest online retailer Flipkart (IPO-FLPK.N) aims to double the total value of goods it sells to $8 billion in 2015, two people with direct knowledge of the company’s plans told Reuters, as it looks to widen the gap with rivals including Snapdeal and Amazon.com’s India unit.

The company’s gross merchandise values (GMV), or the value of the goods sold on its site, is currently $4 billion. GMV is calculated on monthly average sales.

Industry sources estimate Snapdeal and Amazon’s India arm currently notch up gross merchandising values of around $3 billion and $1 billion respectively. (Editing by Clara Ferreira Marques and Miral Fahmy)

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