The separation could happen before Flipkarts proposed US listing, expected in 2016, according to one executive, indiatimes.com reports. WS Retail was set up by Flipkart cofounders Sachin Bansal and Binny Bansal in 2010. They sold off their stake in September 2012 and the company is now 46% controlled by former Flipkart employees.
Ekart ships 85% of products ordered on Flipkart and expects that the share of shipments done by third-party logistics companies, including FedEx and BlueDart, to double in the coming throughout 2015.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now