Adani Group picks minority stake in Flipkart-owned Cleartrip
The Adani Group will pick up a significant minority stake of an undisclosed value in Cleartrip, the online travel aggregator owned by the Flipkart Group.
had acquired in April this year in a deal estimated at around $40 million.
A statement noted that through this investment, the Adani Group and the Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence.
Flipkart Group claimed that since the acquisition of this travel aggregator, Cleartrip has seen 10X growth in flight bookings. Also, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-covid highs.
The investment will further enhance the strategic partnership between the Adani Group and the Flipkart Group, the statement said. As a part of the investment, Cleartrip will also serve as the Adani Group’s online travel agency (OTA) partner.
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centres, fulfilment centres, and now air travel,” said Gautam Adani, Chairman of the Adani Group.
“It is such strategic partnerships among homegrown companies which will eventually create local jobs as well as an Atmanirbhar Bharat. The Cleartrip platform will become an essential part of the broader SuperApp journey we have embarked upon,” Adani further noted.
Flipkart noted that by collaborating with the Adani Group in areas such as travel-related products, loyalty programs and other value-added services, Cleartrip aims to provide consumers with a seamless travel experience and further accelerate its growth.
Speaking on the development, Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “At the Flipkart Group, we are focused on delivering experiences for consumers and providing opportunities to help them fulfil their aspirations. As travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers. We strive to strengthen our relationship with the Adani Group and will explore ways in which we can expand our offerings for consumers, leveraging their robust travel infrastructure in the country.”
Besides this partnership, Flipkart and Adani already have another tie-up logistic and data centres. As part of this Adani Group will construct a 534,000 sq. ft. fulfilment centre in its upcoming logistics hub in Mumbai that will be leased to Flipkart.
Edited by Saheli Sen Gupta