Soon after the Walmart-Flipkart deal, four senior leaders from the US retail giant have been appointed at the Flipkart Group level. The four senior leaders will make the transfer by October. The executives that are supposed to make the transfer are Walmart’s M&A head Emily McNeal, who will join the Flipkart Group as senior vice president and […]
One of the largest retail player Walmart has reportedly paid Rs 7,439 crore tax on the payments the company made to acquire the shares of 10 major shareholders of Flipkart. Various shareholders of Flipkart including the major ones like SoftBank, Naspers, venture fund Accel Partners and eBay, had sold their holdings to Walmart. On the […]
US-based retail giant Walmart has now completed the deal with Flipkart to hold its 77 percent stake. After the closure, Flipkart’s future financial activities will be reported by Walmart International Business. Besides the acquisition part, Walmart also infused USD 2 billion of equity funding in Flipkart business. In the press release company said, “With the […]
The multinational retail corporation Walmart has planned to hire around 1,000 employees for the technology space in India. The world’s largest retail company is lately focusing on technology to give a tough competition to the other predominant e-commerce players including Amazon. At present, the company has its technology operations in Bengaluru and Gurgaon where it has about […]
The multinational retail corporation Walmart is seeing Uttar Pradesh as a major source of recruitment. The company is seeking to offer at least 30,000 local jobs by setting up 15 stores in the state. Walmart India at present operates four Cash and Carry stores in UP and had recently launched a fulfillment center (FC) in Lucknow, which […]
US-based multinational retailing corporation Walmart is planning to open nearly 30 new wholesale cash-and-carry stores in the next three years in India, basically in Uttar Pradesh (UP) and Uttarakhand, mentioned by the top company official. Walmart India, the wholly owned subsidiary of Walmart Inc, has inaugurated its second B2B fulfilment centre (FC) in Lucknow. It is set to accelerate the […]
The American Multinational Retail Corporation Walmart Inc. has announced to sell the majority of its stake that is 80% stake in its Brazilian business operations to a private equity company Advent International Corp. decreasing its existence in countries where it is battling and struggling for profitability. Walmart is a US-based retail company which is the world’s […]
US-based giant, Walmart is gearing up to scale its “Mera Kirana Programme” and make it part of its main business in India while opening up new fulfilment centre to expand its foothold in the country. Notably, the e-retailer has been piloting the Mera Kirana Programme from last four years and now wants to include it […]
The biggest acquisition in e-commerce that shook up the world-the Flipkart-Walmart is now being examined by the Income Tax departments in India where the tax body has sent queries to Flipkart-Walmart regarding the $16 Bn worth deal. While Flipkart has responded to the details of the acquisition, Walmart’s explanation is still awaited. The acquisition deal […]
Softbank is finally putting an end to the months of speculations over his future with Flipkart post the Walmart acquisition deal. The Japanese conglomerate has now agreed to sell its 23.6% stake in Indian e-commerce major Flipkart to its new owners, Walmart for around $4 Bn. Several reports varied over the future of Masayoshi Son’s […]
Traders Body, Confederation of All India Traders ( CAIT ) has decided to approach fair trade regulator CCI against $16 billion Walmart-Flipkart deal claiming that the agreement would lead to massive job loss and will turn out a nightmare for retail trade in the country. It is interesting to note that US giant Walmart had […]
After acquiring Indian e-commerce unicorn Flipkart, US giant Walmart Inc. has finally sought approval of India’s Anti-Trust Regulator for its mega $16 billion acquisition. According to a Regulatory Filing sent to Competition Commission of India (CCI), Walmart has said that its buyout of Flipkart does not result in competition concerns as the broader retail market […]