E-commerce player Flipkart Group has acquired 100% stake in Walmart IndiaTwitter
NATIONAL NEWS
Flipkart acquires Walmart India's wholesale business
Flipkart will launch a new digital marketplace Flipkart Wholesale next month, with fashion and grocery categories
New Delhi: In a swift move to scale its business-to-business vertical, e-commerce player Flipkart has acquired 100% stakes in Walmart India, which operates Best Price cash-and-carry business.
Flipkart will launch a new digital marketplace, Flipkart Wholesale next month, with fashion and grocery categories, competing directly with other significant players like Reliance JioMart, Udaan, Metro Cash & Carry, and Amazon’s B2B division.
The segment will be headed by Adrash Menon, and Sameer Aggarwal, Chief Executive Officer at Walmart India, will remain with the company.
The acquisition of Walmart India will strengthen our position to address the needs of kiranas and MSMEs, said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.
