Adani Group deepens strategic partnership with Flipkart, to invest in Cleartrip
The Adani Group, India’s fastest-growing diversified conglomerate, said that it is investing in Cleartrip Private Limited, an online travel aggregator (OTA) that is part of India’s native consumer internet ecosystem, the Flipkart Group.
The Adani Group will acquire a large minority share in Cleartrip as part of this deal.
According to the Adani Group, the purchase is likely to conclude in November 2021, subject to normal closing conditions.
The Adani Group and the Flipkart Group will benefit from synergies that will enable them to provide improved travel experiences to customers when the Indian travel market recovers.
Cleartrip has witnessed a tenfold increase in airline reservations after being acquired by the Flipkart Group. Cleartrip will be able to break down digital barriers and deliver end-to-end travel services online as a result of this agreement. The investment would strengthen the strategic cooperation between the Adani Group and the Flipkart Group, as both companies strive to provide a diverse range of digital services to Indian consumers.
Cleartrip will also function as the Adani Group’s OTA partner as part of the deal.
Cleartrip is one of India’s most popular travel companies thanks to its scalable technological stack, user-friendly design, and industry-first initiatives. This, along with Flipkart’s strong consumer-focused knowledge and an experienced leadership team, has helped the business maintain its dominant position in the OTA industry over the previous few months.
Cleartrip hopes to provide consumers with a smooth travel experience and accelerate its growth by cooperating with the Adani Group in areas like as travel-related products, loyalty programmes, and other value-added services.
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centers, fulfillment centers, 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.”
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 fulfill 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,” he added.
Subject to customary closing conditions, the transaction is scheduled to conclude in November 2021.
