Flipkart group acquires Walmart India’s wholesale business, launches Flipkart Wholesale
Flipkart Group on Thursday announced the acquisition of Walmart India's wholesale business. The company said that it was acquiring 100% interest in Walmart India Private Limited, which operates the Best Price stores in India.
With this acquisition, all of Walmart India's employees will join the Flipkart Group while the home office teams will integrate over the next year. The Best Price stores, on the other hand, will continue to serve their 1.5 million members via its network of 28 stores and e-commerce operations.
Apart from the acquisition of the Walmart group, Flipkart also announced the launch of Flipkart Wholesale. The company said that Flipkart Wholesale will leverage the e-retailer's technological capabilities and vast supply chain infrastructure to reach kiranas and medium and small enterprises (MSMEs) across the country.
The acquisition will also help kiranas and MSMEs by allowing them to access various Flipkart initiatives including easy credit options that will help them scale and get profitable.
Flipkart Wholesale will launch its operations in August 2020 piloting its services for the grocery and fashion categories. It will be headed by Adarsh Menon, who is a Flipkart veteran. Sameer Aggarwal, Chief Executive Officer at Walmart India, will remain with the company to ensure a smooth transition, after which time he will move to another role within Walmart.