ITLN
E-commerce

Flipkart acquires Walmart India & launches Flipkart Wholesale

July 23, 2020: The Flipkart Group today announced the launch of a new digital marketplace ‘Flipkart Wholesale’ and the acquisition of 100% interest in Walmart India to enter Indian wholesale business.

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.
X
Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.

July 23, 2020: The Flipkart Group today announced the launch of a new digital marketplace ‘Flipkart Wholesale’ and the acquisition of 100% interest in Walmart India to enter Indian wholesale business.

Walmart India’s 12-year-old Best Price is one of India’s largest cash-and-carry businesses and currently delivers to more than 1.5 million members, including kiranas, horecas and MSMEs. Flipkart also aims to leverage the strong wholesale capabilities of Walmart India to do business with kiranas and MSMEs.

“Flipkart Wholesale will focus on meeting the needs of Kiranas and MSMEs by providing small businesses with a wide selection at significant value, powered by technology to make their lives easier. Whether in grocery, general merchandise or fashion, these businesses will have one-stop access to an extensive selection of products with attractive schemes and incentives, supplemented with data-driven recommendations for stock selection, delivered through a fast and reliable network to drive greater efficiencies and better margins,” says the release.

Easy credit access for kiranas & MSMEs
In addition, kiranas and MSMEs will benefit from access to easy credit options and opportunities for new income generation through various Flipkart initiatives, creating new ways to catalyse growth. These opportunities are especially relevant at this time as kiranas and MSMEs work towards achieving scale and profitability following the impact on business due to the Covid-19 pandemic.

Kalyan Krishnamurthy, chief executive officer, Flipkart Group, said, “With the launch of Flipkart Wholesale, we will now extend our capabilities across 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. With this development, the Flipkart Group will further build upon the synergies across its businesses to drive greater value and choice for end-consumers and businesses alike.”

Adarsh Menon to head Flipkart Wholesale
Flipkart Wholesale will launch its operations in August 2020 and will pilot services for the grocery and fashion categories. It will be headed by Adarsh Menon, a veteran at Flipkart. Sameer Aggarwal, chief executive officer at Walmart India, will remain with the company to ensure a smooth transition, after which time he will move to another role within Walmart.

Adarsh Menon, senior vice president and head, Flipkart Wholesale, said, “Flipkart Wholesale will further deepen and build on Walmart India and the Flipkart Group’s commitment to kiranas and MSMEs over the last several years. Thousands of kiranas have already partnered with Flipkart to enhance their business and income streams. I am excited to be part of this new initiative that allows us to expand opportunities for growth for them and bring further prosperity to their lives. We will leverage the synergies between Flipkart and Walmart India as we stay focused on transforming the wholesale experience for kiranas and MSMEs.”

With the acquisition of the Walmart India business, its employees will join the Flipkart Group and the home office teams will integrate over the next year. The Best Price brand will continue to serve its 1.5 million+ members via its omnichannel network of 28 stores and e-commerce operations.

Next Story
Share it