India-based online retailer Flipkart is reportedly set to close all customer transactions on eBay.in from 14 August.
The retailer also revealed plans to launch a refurbished goods platform and will handle a different target audience, reported The Times of India.
The company plans to launch the platform next month, however, it will only open for transactions after six months.
Flipkart CEO Kalyan Krishnamurthy was quoted by the news agency as saying: “Based on our learnings at eBay.in, we have built a brand new value platform with refurbished goods, a large market, which is predominantly unorganised.
“With Flipkart’s customer base and F1 Info Solutions & Services in our group portfolio, I believe we can solve the key barriers to refurbished trust and convenience at scale.
“As part of this launch, we will be stopping all customer transactions on eBay.in on 14 August 2018 and transitioning to the new platform.”
Flipkart acquired a 5% stake in eBay’s Indian operations for $500m last year. US-based eBay entered the Indian e-commerce market in 2004.
The online retailer also acquired F1 Info Solutions and Services in India last year.
US giant Walmart acquired Flipkart for $16bn in May.
