Flipkart is expanding its product portfolio, wants to yield profits from furniture category

Flipkart is foraying into categories apart from electronics, mobiles and apparels. Now, it wants to become number one in online retailer of furniture and has set an ambitious target for itself.

Without compromising on profits, Flipkart wants to achieve a 15-fold growth in the furniture category.

Flipkart is brining quite a few changes such as adding home furnishing and automobiles in its product category.

In the furniture one, Flipkart will face tough competition from Urban Ladder, Pepperfry and Fabfurnish.

Sandeep C Patil, a senior director at Flipkart, told ET, “Furniture is a $20 billion market, which is bigger than the mobile phone market.”

Reportedly, Flipkart could achieve Rs 2,600 crore in furniture sales by the end of 2016.

Meanwhile, Pepperfry and Urban Ladder want to register growth of at least 150%.

"Right now verticals are bigger than horizontals in the category, but even after launching in October we are quite close to them in size. If our projections hold, we will be multiple in size of verticals," told Patil.

Morgan Stanley has predicted that home furnishing will boom and reap huge revenues for ecommerce firms.

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