Categories: Business

Flipkart acquires Walmart India; Flipkart to launch in August

Photo: NYTIMES

Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in Aug

new Delhi. Flipkart has announced the acquisition of Walmart India on Thursday. The company has said that it will launch Flipkart wholesale for the B2B segment in August. The company aims to strengthen its presence in India's $ 650 billion B2B retail market. Walmart India currently operates 28 best price wholesale stores in the country. Earlier, Flipkart had announced a $ 1.2 billion capital acquisition last week from an investor group led by Walmart.

In 2018, Walmart Inc. invested $ 16 billion to acquire a 77 percent stake in the group. Flipkart Wholesale is a new digital marketplace focused on the business-to-business segment in India. Flipkart Wholesale Vice President and Head Adarsh ​​Menon said that while this marketplace will connect vendors and manufacturers, on the other hand it will connect grocery and micro, small and medium enterprises.

Menon said that the B2B market for finished goods is $ 650 billion in India. With this new beginning, we aim to achieve a market share of $ 140 billion. The largest categories in it are Fashion, Grocery, General Merchandise, Large and Small Electronics.

Walmart, the world's largest retailer, started a cash-and-carry business in India in association with Bharti Enterprises. Here small enterprises, grocery stores and hotels are allowed to shop in bulk. Walmart India employees will be included in the Flipkart Group. Walmart India was a wholly owned unit of Walmart Inc. and has 3500 employees.

The best price cash-and-carry business will continue to operate and it will continue to serve more than 1.5 million members for its 28 stores and e-commerce operations across nine states. In the next few months, Walmart India is going to open its new cash-and-carry store in Tirupati.

This post was published on July 23, 2020 2:23 pm

Content Team

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