Flipkart Group has acquired a 100% stake in Walmart India Pvt Ltd, which operates the best price cash-and-carry business and launched a new digital marketplace Flipkart Wholesale (lipkart wholesale) is.
new Delhi. E-commerce company Flipkart has announced to launch Flipkart Wholesale in the country. Flipkart will launch Flipkart wholesale in August. Flipkart Group has acquired a 100% stake in Walmart India Pvt Ltd, which operates the best price cash-and-carry business and launched a new digital marketplace Flipkart Wholesale (lipkart wholesale) is. Flipkart Wholesale will start its operations in August and offer services in the grocery and fashion segment.
The new business vertical will be led by Flipkart veteran Adarsh Menon. Walmart India CEO Sameer Agarwal will remain with the company till Sahaj Transition.
Also read: EPFO released figures, 3.18 lakh new people joined jobs in May – number better than April
After this he will be given a new role in Walmart. This reverse acquisition of Walmart’s business-to-business segment in India will help Flipkart 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.
Bengaluru-based Flipkart said it would enable it to transform the kirana retail ecosystem in the country by leveraging locally developed technology and helping development for kiranas and MSMEs.
Flipkart wholesale e-commerce firm’s supply chain infrastructure will reach grocery and MSME across the country. The merchandising experience of the Walmart India team and twelve years of operating the best price stores will come in handy. Best Price currently serves more than 1.5 million members, including Grocery, Horeka and other MSMEs.
