Flipkart Launches Flipkart Boost Programme To Help D2C Brands In India
As per a statement from the company, through a service fee model, the initiative will provide emerging “Made in India” brands end-to-end support. Flipkart Boost will cover planning, cataloguing, quality control, mentoring, advertising, and logistics of the shortlisted D2C brands.
Flipkart Boost Programme
Under the Flipkart Boost programme, 100 D2C brands will be shortlisted this year based on a clear set of pre-decided objective criteria. And as part of the programme, selected startups will get end-to-end support covering their growth potential, sustainable revenue run rate, commitment to building a long-lasting brand, focus on quality, strong product mix and customer orientation.
Additionally, through a ‘pitch day’ facilitated by Flipkart, the selected D2C brands will also have the opportunity to secure potential funding from a network of leading venture capital funds and active investors in the D2C space.
Some of these investors include Fireside Ventures, Matrix Partners India, Sequoia Capital India, DSG Consumer Partners, and Stellaris Venture Partners.
Speaking on the development, Ravi Iyer, Senior VP and Head, Corporate Development, Flipkart, said,
“The growing popularity of digital-first brands driven by a focus on specific customer needs demonstrates immense market potential. With the Flipkart Boost programme, we aim to build and nurture these growing customer-focused businesses by providing them relevant mentoring that covers access to a network of investors, market intelligence, scalability programmes, and marketing engagements.”
As per the eCommerce giant, the programme was piloted with several brands earlier this year, which witnessed significant growth in quarterly revenue. Additionally, Flipkart stated that over the past 18 months, 800+ D2C brands leveraged the power of digital to build their presence and cater to evolving customer preferences.
The D2C sector in India is expected to be worth $100 billion by 2025, as per a report by Avendus Capital.
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