Flipkart is entering into the wholesale marketplace by acquiring, Walmart’s Wholesale business. It is aimed at the B2B marketplace which is considered to be the next big thing in the e-commerce space in India. Before this, Reliance Retail, Udaan, Amazon, Facebook, and others too have been eyeing the Indian Wholesale business.
The Flipkart Wholesale marketplace will be acquiring a 100% stake in Walmart’s India business, which has limited standalone presence in the country. Based in New Delhi, Walmart previously operated Best Price, a cash-and-carry business that runs 28 warehouse club-style across India and has more than 1.5million members.
Flipkart Wholesale will be starting operation next month, and will use the e-commerce giant’s existing vast supply chain infrastructure and offer a wide range of products and merchandise, as well as easy credit options and opportunities for additional income generation to local shops, called “Kiranas” and other small businesses, the company said, adding it will also help these businesses with insights so they can plan their inventory needs more effectively.
Flipkart Wholesale will start operations with the fashion category, later expanding to include grocery, home, large, and small electronics products. The new venture will be headed by Flipkart veteran Adarsh Menon while Sameer Aggarwal, CEO of Walmart India, will move to another role within Walmart after the transition.
OLA electric to launch a new EV in India on August 15
India rejects privacy bill that scared big tech firms, works on new law
India raises import tax on gold from 7.5% to 12.5%
India to delay strict new VPN rules by three months
LG Electronics ventures into the electric vehicle charging business, acquires AppleMango
© 2022 CIO Bulletin. All rights reserved.