Flipkart Acquires Walmart India, Launches Flipkart Wholesale
Along with the acquisition of Walmart wholesale business, Flipkart has also announced the launch of Flipkart Wholesale.
Today, Flipkart Group announced the acquisition of Walmart India's wholesale business. Flipkart said it was acquiring 100% interest in Walmart India Private Limited, which operates the Best Price stores in India.
With this acquisition, Walmart India's employees will join the Flipkart Group while the home office teams will amalgamate over the next year. At the same time, the Best Price stores will, as usual, serve their 1.5 million members via its network of 28 stores and online business operations.
Along with the acquisition of Walmart, Flipkart has also announced the launch of Flipkart Wholesale. The company said that Flipkart Wholesale would control the e-retailers technological capabilities and massive supply chain infrastructure to reach grocery stores and medium and small enterprises (MSMEs) across India.
The acquisition will also help grocery stores and MSMEs to access a variety of Flipkart initiatives, including easy credit options which in turn that will help them to grow and get profitable.
In August 2020, Flipkart Wholesale will launch its operations, starting its services for the grocery and fashion class. Adarsh Menon, a Flipkart veteran, will be heading it. Sameer Aggarwal, CEO at Walmart India, will continue with the company to ensure a smooth transition, later he will move to another role within Walmart.