eBay Inc (NASDAQ:EBAY) is not going to let the troubles of its rivals affect its growth plans, as it seeks to expand its market share in the high margin lifestyle category, in India. In an article on The Financial Express, Sayan Chakraborty revealed the next phase of eBay Inc (NASDAQ:EBAY)’s expansion plans in the country.
Chakraborty quoted Latif Nathani who is eBay Inc (NASDAQ:EBAY) India’s managing director as saying that, “We have seen very good growth this year in the lifestyle segment, which came from attracting a lot of brands. We want to focus on that part since it is a huge opportunity.”
These brands that Nathani talked about include names like, French Connection, Puma, Cotton World and W, according to Chakraborty.
India’s e-commerce business is on the rise and so is its upper middle class which can afford these brands. eBay Inc (NASDAQ:EBAY) wants to cash in on this opportunity which as Nathani was quoting as saying that the company missed out on initially. eBay Inc (NASDAQ:EBAY) plans to catch up on it.
What is interesting is that eBay Inc (NASDAQ:EBAY) remains undeterred by the regulatory troubles its rivals are facing. eBay Inc (NASDAQ:EBAY) still has faith in the Indian e-commerce market and believes that it is an investor friendly government at the country’s helm.
Amazon.com, Inc. (NASDAQ:AMZN) and Flipkart would beg to disagree though. The other competitors didn’t have as smooth a ride as eBay Inc (NASDAQ:EBAY). Chakraborty reported that Amazon.com, Inc. (NASDAQ:AMZN) ran into trouble with the taxman over the issue of value-added tax in Karnataka. Flipkart on the other hand was found violating the country’s FDI laws.
Amazon.com, Inc. (NASDAQ:AMZN) blamed India for its outdated laws which the company thought didn’t keep pace with the technological advancement, according to Chakraborty. However, it seems that it is business as usual for eBay Inc (NASDAQ:EBAY) as it shows little concern whether these laws are outdated or not.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.