Flipkart has acquired the Walmart India’s Wholesale Market Business and has announced on yesterday that they are going to launch “Flipkart Wholesale” from the next August month.
Flipkart wholesale marketplace will be a new B2B (Business 2 Business) business platform for all micro, small & medium sellers and will mainly focus on Indian Market value.
“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,” said by Flipkart senior vice president and head-Flipkart Wholesale Adarsh Menon to the news agency Press Trust of India.
He also added “The B2B market for finished goods is estimated to be worth $650 billion. To start with, we will be focusing on $140 billion of that $650 billion, which is largely the categories of fashion, grocery, general merchandise, large and small electronics“.
In 2018, the global leading American multinational retail corporation, Walmart had invested $16 billion for acquiring a 77 percent shares of Flipkart.
Flipkart has officially announced that the Flipkart Whole will be launch from August, 2020.
The Chief Executive Officer at Walmart India, Mr. Sameer Aggarwal will remain with the company to ensure a smooth journey, after which it is being in segment that he will move to another role within Walmart.
The Walmart India CEO Sameer Aggarwal said “A thing we saw through COVID-19 (outbreak) was kiranas are shopping in more omnichannel ways than before. In our Best Price business, we had a 4X increase in e-commerce within our business, which is primarily brick and mortar. What that tells us is that kiranas are very open to shopping both online and offline“.
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