WS Retail Services, once the largest seller on Flipkart’s marketplace, has reportedly dissociated itself from selling on the e-commerce platform. According to media reports, WS Retail, founded by Flipkart founders Sachin and Binny Bansal, who later sold it to investors, has not been selling on Flipkart since a year now. Any certain reason behind the move is yet to be ascertained.
Flipkart’s decision to reduce its dependency on WS Retail comes after government’s decision that do not permit e-commerce companies to source more than 25 per cent of goods from a single seller.
The company posted 67 per cent decline in its revenue from Rs 13,900 crore in fiscal 2016 to Rs 4,600 crore in fiscal 2017.
WS Retail once used to contribute approximately 30-40 per cent to the e-tailer’s overall sales.
Flipkart has been in news for quite long due to its much talked about deal with Walmart. However, the Confederation of All India Traders (CAIT), the leading advocate for small traders and retail businesses in India, has been raising its voice against the Flipkart-Walmart deal in order to save traditional retailers in India.
