Flipkart on Thursday announced the acquisition of Yantra, an electronics recommerce company, to strengthen its recommerce business and enhance after-sales offerings for its customers in the smartphone segment.
Yantra, incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, is a firm engaged in the repair and sale of innovative consumer technology products such as smartphones and laptops.
With this acquisition, Flipkart will provide its customers with a comprehensive service ecosystem that takes care of the entire lifecycle of the smartphone. The buyout will give the e-tailer greater access to affordable refurbished smartphones for its customers, the company said in a statement.
Prakash Sikaria, Senior Vice President – Growth & Marketing, Flipkart said, “India is one of the fastest growing markets for electronic goods, with smartphones being one of the most sought after. There is a large group of consumers who prefer branded Want to own the equipment, but the prices are sometimes prohibitive.
Jayant Jha, Co-Founder and CEO, Yantra said, “At Yantra, we have been able to successfully take smartphone recommerce to the next level with our deep understanding of the sector and technology. We believe the association with Flipkart will be a game-changer in making the Indian refurbished market a success and creating a better experience for our consumers.
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