Indian company Flipkart bought Walmart India Famous company Flipkart Group India’s leading e-commerce company Flipkart Group has bought Walmart India. Flipkart has acquired 100% stake in Walmart India. That is, with this, Flipkart is also bringing the new digital marketplace Flipkart Wholesale. Flipkart will be able to take advantage of the strong wholesale capabilities of Walmart India and will push the growth of grocery and MSMEs strongly. Along with this, the company’s grocery business will also be strengthened by the move.
Indian company Flipkart bought Walmart India
Flipkart Group CEO said small traders will benefit
Kalyan Krishnamurthy, Chief Executive Officer (CEO), Filpkart Group said, “With the launch of Filpkart Wholesale, we will enhance our capabilities in technology, logistics and financing small businesses across the country.” The Flipkart wholesale unit will be launched in August and will have First will be services for the grocery and fashion categories. Samir Aggarwal, Chief Executive Officer at Walmart India, will remain with the company to ensure a smooth transition, after which he will move to another role within Walmart.
Let me tell you that 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 a direct competition with Geomart, Udaan, Metro Cash & Carry and Amazon’s B2B division. Krishnamurthy said, “The acquisition of Walmart India adds to a strong talent pool with deep expertise in wholesale business, which will strengthen our position in addressing the needs of grocery and MSMEs.
Flipkart is an e-commerce company headquartered in Bangalore and Karnataka. Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, graduates of the Indian Institute of Technology Delhi. He worked for Amazon.com. Flipkart, originally created for online buying and selling of books, now offers its customers a new option to buy electronic equipment and other items.
Payments can be made on Flipkart through credit card, debit card, net banking, e-gift voucher and cash on delivery. Flipkart started selling its products under the name DigiFlip. It contains camera-bag, pen-drive, computer and headphones accessories etc. Following the success of the 2014 Big Billion Sale, Flipkart acted as the second Big Billion Sale. Where it is reported that they have seen a turnover of 300 million in gross merchandise volume.