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Ratan Tata-backed smart wearables maker GOQii’s ongoing legal dispute with Flipkart — for deep discounting its bands on the e-commerce platform — has been resolved by both the parties out of court.
The court hearing, originally set for June 7, was adjourned to June 26.
“Happy to share that @GOQii products will be back on @Flipkart! Flipkart and GOQii have been in constant communication and have resolved the issue. We will work together to make India healthy,” tweeted Vishal Gondal, founder and CEO of GOQii, on Friday.
GOQii had taken the matter to court saying its products were being sold below cost price, at a 70-80 per cent discount, on Flipkart. As a consequence, it lost orders to the tune of 5-8 lakh units from corporates, brands and distributors, incurring heavy losses, it said. This was despite the Bombay Civil Court ordering Flipkart and its sellers Tech-Connect and Retailnet to stop selling GOQii products.
Going by the law
However, Flipkart maintained it was fully compliant with domestic laws, and that it was engaged with the suppliers for a swift resolution of the matter.
“Flipkart engaged with us in a transparent way and their team worked on a resolution benefiting the brand and the customers. We look forward to a continued fruitful association and helping serve millions of Flipkart customers in a better way,” said Gondal.
No contentions
Asked if Flipkart had compensated the start-up for the losses it had incurred due to losing huge volumes of orders, he said: “We have amicably resolved our differences and hence don’t have any contentions related to the issues we faced. GOQii has withdrawn its suit and complaint against Flipkart.”
Adarsh Menon, Vice-President and Head of Private Labels at Flipkart, said in a statement: “Flipkart is a customer-focussed marketplace that works closely with brands and seller partners to ensure that all policies are aligned to industry standards and are in compliance with all applicable Indian laws. We have a zero tolerance policy on incidents that impact customer trust. In the last few days, we have ensured constant engagement with GOQii to resolve any differences and we are glad that the brand will be back on Flipkart.”
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