Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in August
Bengaluru, 23rd July 2020: Flipkart announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the USD 650 billion B2B retail markets in India.
Walmart India runs 28 Best Price wholesale stores in the country.
The announcement comes a week after Flipkart had said it had raised USD 1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested USD 16 billion for acquiring 77 percent stake in the group.
Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India.
“This marketplace is going to effectively link sellers and manufacturers on one end and kiranas and micro, small ...