Gadget Insights: E – commerce giant Flipkart, on Thursday, acquired 100 per cent stake in Walmart Inc’s cash and carry business, thus, launching Flipkart Wholesale.
The new digital marketplace, Flipkart Wholesale, headed by Adarsh Menon will launch its services in August and cater segments of grocery and fashion.
With the merchandising expertise of the Walmart team, the new B2B venture is likely to target the small scale Kirana or grocery stores for direct access of groceries through this platform.
“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,” said Kalyan Krishnamurthy, CEO, Flipkart Group.
Walmart India employees will join the Flipkart Group as part of the deal, Flipkart added.