India’s leading e-commerce player Flipkart Group said it has launched Flipkart Wholesale aimed at transforming the kirana ecosystem in the country. As part of this, it has also bought out 100% in Walmart India, which operates the Best Price cash and carry business.
Flipkart Wholesale will leverage Flipkart’s strong homegrown technology capabilities, extensive leadership in the consumer e-commerce segment, and a unique understanding of the industry in India. The business will also utilise the Flipkart Group’s vast supply chain infrastructure to reach kiranas and MSMEs across the country.
“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,”Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said.
At the same time, Judith McKenna, President and Chief Executive Officer, Walmart International said, “Today marks the next big step as Walmart India’s pioneering cash-and-carry legacy meets Flipkart’s culture of innovation in the launch of Flipkart Wholesale. By leveraging each other’s strengths and unique expertise, this combined team will break new ground in their shared mission to help Indian businesses grow and succeed”.
