E-commerce company Flipkart Group has acquired a 100% stake in Walmart India, which runs the Best Price Cash and Carry business, and has launched a new digital segment, Flipkart Wholesale.
The step would allow Flipkart to leverage the company’s strong wholesale capabilities and support the growth of kiranas and small and medium-sized enterprises. This would also boost the grocery industry that is becoming highly competitive.
Flipkart Wholesale will be launched in August and will be a pilot service for the grocery and apparel categories.
Kiranas and MSMEs are crucial to India’s retail ecosystem, and Flipkart Wholesale will concentrate on satisfying their needs by offering a wide range of value-added services to small businesses.
In addition, kiranas and small and medium-sized businesses will have access to credit options and new income generation opportunities through various Flipkart initiatives.
“For over a decade, we’ve been committed to India’s prosperity by serving kiranas and MSMEs, supporting smallholder farmers, and building global sourcing and technology hubs throughout the country. Today marks the next big step as Walmart India’s pioneering cash-and-carry legacy meets Flipkart’s culture of innovation in the launch of Flipkart Wholesale,” said Judith McKenna, President, and Chief Executive Officer, Walmart International.
