BENGALURU : E-commerce major Flipkart Group has acquired 100% stake in Walmart India Pvt Ltd, which operates the Best Price cash-and-carry business, and has launched Flipkart Wholesale, a new digital marketplace. Sameer Aggarwal, Walmart India CEO, will remain with the company to ensure a smooth transition, after which time he will move to another role within Walmart. Kalyan Krishnamurthy, CEO, Flipkart Group, said, “…With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country. 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," said Judith McKenna, President and CEO, Walmart International. Adarsh Menon, Senior Vice President and Head - Flipkart Wholesale, said, “Flipkart Wholesale will further deepen and build on Walmart India and the Flipkart Group’s commitment to kiranas and MSMEs over the last several years.

Source: Mint July 23, 2020 06:09 UTC