Walmart India, which operates the Best Price cash-and-carry business in India is now acquired by Flipkart Group. The company has acquired 100% stake in Walmart India.
Flipkart Group has announced the launch of Flipkart Wholesale, a new digital market place. The Flipkart wholesale will launch its operations in August 2020 and will pilot services for the grocery and fashion categories.
Kalyan Krishnamurthy, Chief Executive Officer (CEO) of Filpkart Group said, “With the launch of Filpkart Wholesale, we will now extend our capabilities in technology, logistics and finance to small businesses across the country.”
“The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen our position to address the needs of kiranas and MSMEs uniquely,” Krishnamurthy said.
Employees of Walmart India will join the Flipkart Group as part of the deal, the companies said in a statement.
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