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India: Rivals slam Flipkart after record-setting sale

By  |  October 8, 2014

Just one day after Flipkart set a new personal record for highest single-day sales – thanks to a major promotion – the online retailer is facing allegations of anticompetitive conduct.

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    According to groups, offline competitor Future Group claims Flipkart is selling products at below market costs, and is able to do so thanks to foreign funding. Retailers that sell products through Flipkart and other online marketplaces have lodged similar complaints, say reports.

    Future Group founder Kishore Biyani slammed Flipkart, arguing that “just because they have foreign funding, they can’t kill local trade” by selling products at below-market prices, as Future Group claims.

    Earlier this week Flipkart had a record-setting day of sales through its Big Billion Day sale. The company sold $100 million worth of products, according to reports.

    Despite the allegations, no reports of a formal complaint to federal competition authorities have emerged.

    Full content: Economic Times of India

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