Corrected: India's Flipkart targets $8 bln in online product sales in 2015 - sources

SB Technology

12/02/2015 09:12

(Corrects date in first paragraph, changes sourcing) 
    By Nivedita Bhattacharjee 
    MUMBAI, Feb 12 (Reuters) - India's largest online retailer 
Flipkart  IPO-FLPK.N  aims to double the total value of goods it 
sells to $8 billion in 2015, two people with direct knowledge of 
the company's plans told Reuters, as it looks to widen the gap 
with rivals including Snapdeal and Amazon.com's  AMZN.O  India 
unit. 
    The company's gross merchandise values (GMV), or the value 
of the goods sold on its site, is currently $4 billion. GMV is 
calculated on monthly average sales. 
    Industry sources estimate Snapdeal and Amazon's India arm 
currently notch up gross merchandising values of around $3 
billion and $1 billion respectively. 
 
 (Editing by Clara Ferreira Marques and Miral Fahmy) 
 ((clara.ferreira-marques@thomsonreuters.com; +91 22 6180 
7257;)) 
 
Keywords: INDIA FLIPKART ONLINE/