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Flipkart takes over Walmart’s wholesale business in India

The acquisition puts Flipkart in line with Amazon and Reliance JioMart

In a move to compete with rivals such as Amazon and Reliance JioMart, Flipkart takes over Walmart India’s wholesale business, media reports said. 

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, told the media, “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 will strengthen our position to address the needs of kiranas and MSMEs uniquely.”

It is reported that the Bengaluru-headquartered company will roll out Flipkart Wholesale in August. Flipkart Wholesale is a digital marketplace. The financial details of the acquisition were not disclosed by the companies.

As a part of the deal, employees of Walmart India will join Flipkart. Furthermore, Flipkart’s proposed wholesale unit will also feature categories such as grocery and fashion.

Walmart, which forayed into Indian marketplace 12 years ago, also bought a controlling stake in the Indian company for $16 billion but its Best Price wholesale cash-and-carry stores has been incurring loss in the past few years.

Currently, Walmart has 28 wholesale stores, two fulfilment centers and more than 1.5 million members including mom-and-pop stores but has failed to make profit out of the business.

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