Flipkart acquires Yaantra

Flipkart Group has acquired electronics recommerce firm Yaantra in the range of $40-50 million for enhancing its after sale offerings for its consumers in the smartphone segment.

With this acquisition, Flipkart will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones. Flipkart said it will give the company greater access to affordable refurbished smartphones.

The company is hoping to enable greater access to affordable refurbished smartphones, offering value and convenience for the end consumers. Following this acquisition, Yaantra's team will report to Prakash Sikaria, Senior Vice President of Flipkart.

Prakash Sikaria, Senior Vice President, growth and 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. This is where Yaantra fits in perfectly. Their recommerce value chain and refurbishment capability will allow Flipkart to create a very meaningful recommerce offering. This will not only help us further our commitment to addressing consumer needs, but also reduce the negative impact of overproduction on the environment, considering our strong focus on sustainability.