Flipkart acquires re-commerce company Yaantra to improve after-sales offers for smartphone customers

Flipkart Group on Thursday announced the acquisition of Yaantra, an e-commerce company, for an undisclosed amount as part of efforts to strengthen its re-commerce business and improve after-sales offers for its customers in the smartphone segment.

The acquisition was made through FK Group Entity, F1 Info Solutions and Services, which offers full lifecycle management (repairs and refurbishment) for various categories including mobility, consumer electronics , computing and computer peripherals, audio-visual and enterprise solutions, in the B2B (business-to-business) segment, according to a press release.

Yaantra, formed in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, repairs and sells refurbished consumer technology products such as smartphones and laptops.

With this acquisition, Flipkart will provide its customers with a comprehensive service ecosystem that supports the entire smartphone lifecycle, the statement said.

Flipkart will enable greater access to affordable refurbished smartphones, providing value and convenience to end consumers, he added.

The re-commerce market in India is growing at a rapid pace. However, the Indian smartphone refurbishment market is largely unorganized and fragmented, which has posed trust and convenience issues for end consumers.

As part of the acquisition, the Yaantra team will help Flipkart build its capabilities in this area and accelerate its re-commerce scaling plans, the statement said.

The company will report to Prakash Sikaria, senior vice president and head of Flipkart’s growth charter, he added.

India is one of the fastest growing markets for electronics with smartphones being one of the most in demand. There are a large number of consumers who aspire to own branded devices but the prices are sometimes prohibitive This is where Yaantra fits right in,” Sikaria said.

This will not only help Flipkart continue its commitment to meeting consumer needs, but also reduce the negative impact of overproduction on the environment, given the company’s focus on sustainability.

Ravi Iyer, senior vice president and head (corporate development) of Flipkart, said the company is constantly striving to find new ways to be more relevant to consumers and cater to the internet ecosystem. general public in India.

“This approach includes strategic acquisitions and investments that expand the reach of our current offerings to make customers the one-stop destination for their digital needs.

“Through the acquisition of Yaantra, we are strengthening our capabilities in an area critical to the growth of India’s digital economy, as well as developing a comprehensive service ecosystem to support its expansion,” he said. added.

Jayant Jha, co-founder and CEO of Yaantra, said the company shares with Flipkart a common goal of making technology affordable and available to everyone.

“We believe this association will be a game-changer in making India’s refurbished market a success and creating an even better experience for our consumers,” he added.

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