Saturday, May 25, 2024

Flipkart launches Flipkart Wholesale for B2B Segment, acquires Walmart India.

Flipkart group on Thursday announced the launch of Flipkart Wholesale; a new digital marketplace, and the acquisition of 100 percent interest in Walmart India Private Limited, which operates the Best Price cash-and-carry business.

With the launch of Flipkart Wholesale; Flipkart will extend its capabilities across technology, logistics, and finance to small businesses across the country.

The acquisition of Walmart India will strengthen the position to address the needs of kiranas and MSMEs uniquely,” said Kalyan Krishnamurthy, CEO Flipkart Group.

The company declined to share financial details of the transaction saying only that Walmart India employees will move to the Flipkart Group.

Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India.

This reverse acquisition of the business-to-business segment of Walmart in India will help Flipkart to expand its footprint in the food and grocery segment and strengthen the supply chain. Walmart India operates 28 Best Price stores and has two fulfillment centers.

Sameer Aggarwal, CEO at Walmart India, will remain with the company to ensure a smooth transition, after which he will move to another role within Walmart.

Employees of Walmart India business will join the Flipkart Group and the home office teams will integrate over the next year; the companies said in a statement.

At the same time, partners will benefit from broader reach across the country; micro-market insights to enable effective inventory planning and new product development, and cost-effective distribution.

Meanwhile, Walmart Inc continues to operate a separate technology unit in the country under Walmart Labs India.

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