Flipkart to acquire Walmart India’s wholesale business
Flipkart's wholesale unit to acquire Walmart India’s cash-and-carry business that owns the Best Price brand,The move will consolidate Walmart’s entire retail portfolio under the Flipkart Group.
The etailer will launch its Flipkart Wholesale unit next month, starting with fashion and grocery categories.Walmart India employees will transition to the Flipkart Group. The Best Price brand will continue to operate via its network of 28 stores and ecommerce operations.
"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... will strengthen our position to address the needs of kiranas and MSMEs uniquely,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.