Express Computer
Home  »  News  »  Flipkart Buys Parent Walmart’s Indian Wholesale Business

Flipkart Buys Parent Walmart’s Indian Wholesale Business

0 182
Read Article

Flipkart said on Thursday it had acquired parent Walmart Inc’s local cash-and-carry business, as the e-commerce firm strengthens its wholesale offerings to compete better with Amazon.com Inc.

The deal will allow Flipkart to launch a digital marketplace called Flipkart Wholesale next month, the Bengaluru-headquartered firm said, without disclosing any financial details of the deal.

Walmart, which has been running Best Price wholesale cash-and-carry stores in India since 2009, bought a controlling stake in Flipkart in 2018 for $16 billion.

The brand has 28 wholesale stores, two fulfillment centers and more than 1.5 million members, largely comprising mom-and-pop stores, but Walmart has not been able to make money from this business.

Flipkart also faces competition from local online grocery upstart JioMart, backed by billionaire Mukesh Ambani-led Reliance Industries, whose digital arm has raised around $20 billion.

India does not allow foreign investors to control and market their own inventory on their e-commerce platforms, which is seen as giving JioMart and other local players an edge in a key growth market for e-commerce.

Walmart India employees will join the Flipkart Group as part of the deal, Flipkart said.


If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]

Advertisement

Get real time updates directly on you device, subscribe now.

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time
Leave A Reply

Your email address will not be published.

Virtual Conference

INFORMATION SECURITY CONCLAVE

Join India's Largest Premier CyberSecurity & Attend LIVE sessions by Industry Experts.
REGISTER NOW
close-link
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image