E-commerce Company, Flipkart has acquired 100 percent stake in Walmart India Private Limited on Thursday. On the other hand, it has announced to launch a new digital marketplace 'Flipkart wholesale' in the country in the month of August. Let us tell you that 'Walmart India' operates the best price cash-and-carry business. It will provide services related to the grocery and fashion segment.
Flipkart said it would enable us to leverage the strong wholesale capabilities of the company and enable growth for groceries and MSMEs. It will also strengthen the grocery business that is getting increasingly competitive. Capabilities will expand for India's small businesses. "With the launch of Flipkart Wholesale, we will now expand our capabilities in technology, logistics and finance for small businesses across the country," said Flipkart Group CEO Kalyan Krishnamurthy.
Let us tell you that this new business vertical will be led by Flipkart veteran Adarsh Menon. On the other hand, Walmart India CEO Sameer Aggarwal will remain with the company to ensure a smooth transition. He will then be given a new role at Walmart. Krishnamurthy further said, "The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen our position to address the needs of kiranas and MSMEs uniquely."
This reverse acquisition of Walmart's business-to-business segment in India will help to expand its identity in the food and grocery segment and strengthen its supply chain. Walmart India operates 28 Best Price Stores and has two Fulfillment Centers. Let us tell you that Best Price currently serves more than 1.5 million members including grocery and other MSMEs. Flipkart will reach Kiranas and MSMEs across the country using the supply chain infrastructure of wholesale e-commerce firm.