TIL Desk/Business/Bengaluru/ Flipkart on Thursday announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the USD 650 billion B2B retail market in India. Walmart India runs 28 Best Price wholesale stores in the country.
The announcement comes a week after Flipkart had said it had raised USD 1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested USD 16 billion for acquiring 77 per cent stake in the group. Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India.
“This marketplace is going to effectively link sellers and manufacturers on one end and kiranas and micro, small and medium enterprises (MSMEs) on the other end,” Flipkart Senior Vice President and Head – Flipkart Wholesale Adarsh Menon told.
