Medilytix Desk:

Flipkart, homegrown e-commerce giant announced on Thursday that it has acquired electronics recommerce firm Yaantra to strengthen its recommerce business as well as enhance aftersale offerings for its customers in the smartphones segment.

Incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, Yaantra is engaged in repairing and selling refurbished consumer tech products. By acquiring Yaantra, Flipkart aims to provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones. Yaantra is expected to bring in several capability add-ons for Flipkart through its proven expertise in product assessment and refurbishment.

Flipkart, in an officiant statement, noted that the recommerce market in India is growing at a rapid pace, however, the Indian smartphone refurbishment market is still largely unorganised and fragmented. This poses a trust and convenience issue for end consumers. With Yaantra, Flipkart hopes to enable greater access to affordable refurbished smartphones, offering value and convenience for the end consumers.

As part of this acquisition, the experienced team of Yaantra will help Flipkart build capabilities in this domain and accelerate its recommerce scale-up plans. The business will report to Prakash Sikaria, Senior Vice President and Head of Flipkart’s Growth Charter.

“Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion,” said Ravi Iyer, Senior Vice President and Head – Corporate Development, Flipkart.

Commenting on the acquisition, Prakash Sikaria, Senior Vice President – Growth & Marketing, Flipkart, said, “Their (Yaantra) 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.”

Jayant Jha, Co-Founder & Chief Executive Officer at Yaantra, said, “At this juncture, we are delighted to join forces with the Flipkart Group as we share a common objective of making technology affordable and available for all. We believe this association will prove to be a game-changer in making the Indian refurbished market a success and creating an even better experience for our consumers.”

Flipkart acquisition of Yaantra has been effected through FK Group Entity, F1 Info Solutions & Services Pvt Ltd.

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