The Flipkart Group on Thursday announced the launching of Flipkart Wholesale, a brand new online market, and also the purchase of 100 percent interest in Wal-Mart India Private Limited, which operates the Best Price cash-and-carry enterprise.
Kiranas and MSMEs are fundamental to India’s retail ecosystem and Flipkart Wholesale will concentrate on meeting their requirements by offering small companies a broad selection at significant price, the company said in an announcement.
Flipkart Wholesale will launch its operations from August 2020 and can pilot solutions for the supermarket and fashion categories.
Sameer Aggarwal, Chief Executive Officer in Walmart India, will probably remain with the company to ensure a smooth transition, and time he will move to another role within Walmart.
With the purchase of the Walmart India Company, its workers will join the Flipkart Group and the house office teams will integrate over the following calendar year.
“Whether in grocery store, general product or style, these businesses will have one-stop accessibility to a broad choice of goods with attractive incentives and schemes, supplemented by data-driven recommendations for stock selection, delivered through a fast and reliable network to drive greater efficiencies and improved margins,” it stated.
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Top Indian brands, local producers and vendors have partnered together with Flipkart Wholesale to guarantee the availability of an exhaustive array of goods and product for kiranas and MSMEs, the statement said.
Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “The acquisition of Walmart India provides a strong talent pool with deep expertise in the wholesale company which will strengthen our position to address the requirements of kiranas and MSMEs visually.”