Fashion will grow more than 100%: Mukesh Bansal

Flipkart's Mukesh Bansal shares his view on the company's future ahead.

Below is the verbatim transcript of Mukesh Bansal's interview on CNBC-TV18

Q: 2014 was an amazing year for e-commerce, good growth. Going forward how are you planning to pan out in terms of operations going forward?

A: Going into 2015, there is huge momentum for e-commerce. We feel that this year, there will be massive growth. We expect the industry to double this year.

Q: If you look at the fashion segment it is doing pretty well. Your competitors and even Flipkart have achieved USD 1 billion run rate this year, what is your target for 2015?

A: Fashion category will grow more than 100 percent. We think all categories will grow proportionately. Fashion segment is very large in market size. We expect fashion to continue grow in our portfolio this year. Between Flipkart and Myntra, we are happy that we are more than half the market share of all fashion transactions and we will continue to grow aggressively this year.

Q: What is your target for the fashion segment this year?

A: As the category grows more than 2X we will at least grow 100-150 percent in this category this year.

Q: You are planning to enter the furniture segment, you have very few e-commerce players when it comes to furniture segment. By when can we expect the furniture segment online?

A: This year we are actually focusing on almost all the consumer categories. We are expanding our selection including home and furniture as well .We will get a lot more third party retailers on board. We focus this year to establish Flipkart as destination for home and furniture as well.

Q: You are working with the government for training and employee generation, can you throw some light on this new initiative?

A: With Flipkart footprint expanding, we believe there is a huge requirement for training. We are collaborating with the government, giving inputs on what kind of skills are required and generate hundreds of thousands of jobs in next few years.

Q: You are investing heavily in technology automation, data analytics, can you give us some details in terms of the technology front?

A: We are focusing on technology. We need to have world class technology infrastructure. We work with various providers. We will start to have some of the largest data centers and exploring multiple options to build that.

Q: You are now shifting focus to mobile shopping. There is a special mobile app through which consumers can actually buy online. How do you see this trend picking up?

A: Mobile platform is a massive trend. In India, most of the internet traffic is through mobile. Over 80 percent of the internet traffic is through mobile. This year, we will continue to focus on improving our experience through mobile. We see huge traction of Flipkart mobile app.

Q: Does it mean to say that you will be shutting the websites and focus more on the mobile app considering that is the future trend?

A: There are different needs of different platform. There are people who use computer in some cases. We will focus on all platforms, and we are not looking to close our website.

Q: What is the investment for the mobile app?

A: Most of our investment on technology side is building differentiated experience for consumers, building all the back end system for supply chain and infrastructure for data centers.

Q: How are you ramping up the hiring front? By how much percent will you increase your hiring numbers this year?

A: Focus is lot more on quality than numbers. We are already a pretty large organisation. There is huge amount of interest in people wanting to work at Flipkart. Our focus would be to get really top technology people and create an environment for us to do good work. There will be sizeable growth probably propionate to the business growth we are expecting this year.

Q: You have been elevated on the board of Flipkart. We hear that there is another complete restructuring that is happening currently, first time in seven and a half years. What is your new role and what are the challenges ahead?

A: Restructuring is an ongoing process. We will continue to restructure. We are focusing on bringing new leaders in the organisation. As size of the business increases, we are identifying into new areas. We have done some reorganisation recently for this process.

Q: One much awaited answer from you is, is there a merger between Flipkart and Myntra on the cards?

A: There is no plan to merge Flipkart and Myntra. Flipkart and Myntra are big brands in their respective space. Value proposition for both are different. We have no plans to merge.

Q: Everyone is awaiting the Budget announcement, what are your expectations from the Budget?

A: Biggest expectation is clarity around GST rollout.

Q: Government is mulling regulatory regime for e-commerce, is it a welcome sign?

A: It is a positive sign that government is trying to look more into it. It will lead to better laws and regulations and it will ease of doing business in the online world.

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