Flipkart Wholesale || Filpkart acquires Walmart India || फ्लिपकार्ट की नई सर्विस "फ्लिपकार्ट होलसेल"
India's leading e-commerce company Flipkart Group has bought Walmart India. Flipkartacquires 100% stake in Walmart India. With this, Flipkart is also bringing a new digital marketplace Flipkart Wholesale. This move will enable Walmart to take advantage of the strong wholesale capabilities of India and boost the growth of grocery and MSMEs. The move will also strengthen the company's grocery business, which is becoming increasingly competitive.
Chief Executive Officer (CEO) of Filpkart Group Kalyan Krishnamurthy, said, "With the launch of Filpkart Wholesale, we will enhance our capabilities in technology, logistics and financing small businesses across the country."
The Filipkart wholesale unit will be launched in August and will first have services for the grocery and fashion categories. Chief Executive Officer at Walmart India, Samir Aggarwal, will remain with the company to ensure a smooth transition, after which he will move to another role within Walmart itself.
About two years ago, Walmart bought a 77 percent stake in Flipkart for $ 16 billion. Now Flipkart has bought Walmart India itself. The company has done the deal at a time when Reliance's Geomart is moving fast in the country's e-commerce sector. After the launch of Flipkart wholesale, the company will have direct competition from Geomart, Udaan, Metro Cash & Carry and Amazon's B2B division.
Flipkart Acquires Walmart India's Wholesale Business, To Launch In August 2020 |
"Flipkart Group, on Thursday, announced the acquisition of Walmart India and launch a new digital marketplace - Flipkart Wholesale to tap into the retail market in India. The e-commerce platform has acquired a 100 percent stake in Walmart India, which operates the Best Price cash-and-carry business".- Reports CNBC TV 18
CEO of Filpkart also explained that the acquisition of Walmart India will add a strong talent pool with deep expertise in wholesale business section, which will strengthen their position in addressing the requirements of grocery and MSMEs.
# business# biz,# Flipkart,# Walmart,# Flipkart Wholesale,# Walmart India,#
e-Commerce Company,# Filpakart,# Walmart India,# Flip wholesale,#
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