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.
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI