India: WS Retail, Ekart spin-off

Wednesday 21 January 2015 13:52 CET | News

WS Retail, an online retailer, is planning to spin off its logistics arm, Ekart, into a wholly owned subsidiary to make Ekart compatible with regulatory requirements of different Indian states.

The separation could happen before Flipkarts proposed US listing, expected in 2016, according to one executive, 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.

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Keywords: India, WS Retail, Ekart, Flipkart, marketplace, spin-off, subsidiary, logistics company, customer
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce