Flipkart is one of the major market players in India’s e-commerce sector. It has expanded and grown drastically in recent years. Flipkart has now further strengthened its presence in the country, It has incremented its wholesale stature with the purchase of Walmart India. Walmart’s Indian vertical is known to be operating the Best Price cash-and-carry business.
Flipkart is a Bengaluru-based firm that already has Walmart Inc holding a majority stake.
Taking a step forward in this relationship, Flipkart has lately announced the launch of
Flipkart Wholesale. It is a new digital marketplace launched to transform
the Kirana retail store system prevalent in the country by making the best use of available technology.
Walmart India is already responsible for operating 28 Best Price stores in the country spread across nine states. The firm also has around 3,500 employees working for it. Once the acquisition is in place, the employees under Walmart India will work for the Flipkart group. The 1.5 million customers will continue to receive their services by Best Price brand via its omnichannel network stores and e-commerce operation.
The launch of Flipkart Wholesale would enable the firm to expand its potential and capabilities across finance, technology, and logistics small businesses. Kalyan Krishnamurthy the CEO of Flipkart Group also said that the acquisition of Walmart India
would create a major talent pool having deep expertise in the wholesale business. This pool would in turn strengthen the company’s status to cater to the needs of kiranas and
the micro, small and medium enterprises.
Walmart holds a majority stake in the firm after it invested $16 billion in 2018. After which earlier this month Walmart again put in a $1.2-billion round in the e-commerce company increasing its value to $24.9 billion. The initiative of Flipkart Wholesale will be helmed by company veteran Adarsh Menon and will most probably launch in August.