Walmart-owned e-commerce giant Flipkart has announced the launch of an in-house sports and fitness brand called Adrenex.
Bengaluru-based Flipkart said in a statement that the private label floated under Flipkart Private Brands will offer 220 products, including yoga mats and gear for sports such as cricket and skating, at affordable rates.
The launch coincides with the start of the ICC Cricket World Cup that begins on Thursday, the statement added.
“By launching Adrenex, we are looking to better serve Indians who are becoming increasingly health-conscious,” said Adarsh K Menon, vice president-private brands, electronics and furniture, at Flipkart. “We will be adding more products to our catalogue, with the goal of serving every sports and fitness need that a customer may have.”
Flipkart further said that the sports and fitness goods industry in India is estimated to be valued at $5.6 billion by 2023 from $3.3 billion at present.
Flipkart has been betting big on products launched under Flipkart Private Brands in the wake of the order by the Department of Industrial Policy and Promotion to clamp down on e-commerce retailers which sell products through companies in which they own a sizeable stake.
In March, Flipkart announced a hike in the commission it charges sellers of apparel and accessories on its platform in a move that was believed to be aimed at boosting the sales of products manufactured under its in-house brands
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