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 Amazon.com. 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.
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