Flipkart has aquired the whole of Best Price cash-and-carry business from Walmart. This wing of was previously managed by Walmart India Private Limited. Currently it serves 1.5 million users through their 28 stores and e-commerce platform.
Using this channel Flipkart will launch their new Flipkart Wholesale which will be a digital marketplace for kirana stores (small mom-and-pop shops) as well as Micro, Small and Medium Enterprises (MSME). Flipkart will launch its pilot run from next month in a limited scale. At first it will serve users looking for grocery and fashion products. It aims to help kiranas and other small businesses by “leveraging cutting-edge and locally developed technology”.
This will benefit the users as Flipkart will offer a wide range of top brands, local selllers and manufacturers who have partnered with Flipkart Wholesale. In turn the sellers can reep the benefit from Flipkart’s wide network of Wholesale distribution. The company will also provide easy credit options and similarservices to help the sellers grow and survive in these tough times.
The projrct will be headed by Flipkart’s own Adarsh Menon and Sameer Aggarwal, CEO of Walmart India who will oversee the transition before moving to other divisions inside Walmart. As a refresher, Walmart had acquired 77% of Flipkart back in 2018 by spending a whopping $16 Billion.
“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. We look forward to a bright future for Flipkart Wholesale,” said Judith McKenna, President and CEO of Walmart International.
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