(Image source from: Gadgetsnow.com)
Flipkart Acquires Walmart India:- E-commerce giant Flipkart acquired a complete stake in Walmart India which is operating as Best Price in the country. It also launched its new digital marketplace which is named Flipkart Wholesale. Flipkart with this move will take the advantage to make an impact in the wholesale business. Flipkart will also strengthen its grocery and MSME business which is now the new competitive business in the country. Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said "With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country".
Flipkart Wholesale will get its official launch in August and will initially have grocery and fashion categories. Sameer Aggarwal, Chief Executive Officer at Walmart India will continue to remain in the position to ensure a smooth relation. Kiranas and MSMEs are providing small businesses a huge significant value. Kiranas and MSMEs will also offer the options of credit and new income generation. Best Price has more than 1.5 million members. Flipkart is expected to make a solid impact with the new deal.