Flipkart buys Walmart's Indian wholesale

Friday 24 July 2020 13:25 CET | News

Walmart has announced it was selling its warehouse club-style Best Price Modern Wholesale business to the Flipkart Group.

Flipkart Group is the India-based ecommerce company in which Walmart has a majority ownership interest, and via this move, Walmart will position itself in India to better take on Walmart bought a 77% stake in Flipkart in 2018 for USD 16 billion.

In addition, the sale will allow Flipkart to launch a new digital marketplace called Flipkart Wholesale, which will use its supply-chain network to offer kiranas and small- and medium-sized businesses (SMBs) access to an ‘exhaustive’ range of merchandise and easy credit options. Kiranas are small family-owned stores that sell groceries and other goods.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Walmart, India, ecommerce, Flipkart, digital marketplace, supply-chain
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce

Industry Events