Flipkart acquires Walmart India's wholesale biz to help transform kiranas
E-commerce company Flipkart has acquired
100 per cent stake in Walmart India Private
Limited, which operates the Best Price cash-and-carry business.
Flipkart said it
would leverage the strong wholesale capabilities of the company and enable
growth for kiranas and MSMEs (micro, small and medium enterprises).
With this acquisition, the Bengaluru-based firm announced the launch of Flipkart Wholesale, a
new digital marketplace that will help transform the kirana retail ecosystem in
India by leveraging cutting-edge and locally developed technology.
“As
the e-commerce pioneer in India, the Flipkart Group has transformed the
shopping experience for millions of Indian consumers. With the launch of
Flipkart Wholesale, we will now extend our capabilities across technology,
logistics and finance to small businesses across the country,” said Kalyan
Krishnamurthy, Chief Executive Officer, Flipkart Group.
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