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Jayant Mundhra
•
Dexter Capital Advisors • 10m
And it’s official - Flipkart has exited the online pharmacy market after 3yrs! 🙏🙏 Ironically, Flipkart has not announced the move. Its partner in this business has. Let me explain in full depth. .. In 2021, Flipkart entered the Indian online pharmacy market by acquiring a 75% stake in Sastasundar Marketplace for Rs 1.15k crore. This was the e-com unit of listed Kolkata-based pharma distribution biggie - Sastasundar Ventures. After the transaction, Sastasundar was rebranded as Flipkart Health+. .. What was the plan? -> To leverage Flipkart's extensive logistics network and Sastasundar's deep pharma sourcing and distribution might offer medicine delivery -> Also, listed Sastasundar and its stock were supposed to benefit greatly, fulfilling the orders brought by Flipkart Health+ However, none of that happened, as it never became a priority area for Flipkart 🙏🙏 .. And the result is now evident. A little over 3yrs later, Sastasundar has announced Flipkart’s decision to end the partnership. -> The e-com giant has returned the brand’s IP rights and also waived the non-compete -> Hence, the Kolkata-based company is now in the process of relaunching its own app But, the competition here is fierce, with players like PharmEasy, 1mg, and Netmeds already deeply entrenched. Thus, it will be interesting to see how it all pans out. .. By the way, this approach by Sastasundar is very similar to PharmEasy’s 🙌🙌 That giant is also one of India’s largest offline pharmaceutical distributors, in addition to being the online medicine delivery heavyweight most people know it for. Thus, it will be super interesting to see if Sastasundar can also scale to PharmEasy’s size. What do you think? ..
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