Walmart (NYSE: WMT) announced today it was selling its warehouse club-style Best Price Modern Wholesale business to the Flipkart Group, the Indian e-commerce giant in which Walmart has a majority ownership interest. The move will allow Walmart to position itself in India to better take on Amazon.com (NASDAQ: AMZN). The sale will allow Flipkart to launch a new digital marketplace called Flipkart Wholesale, set to open next month, which will use its vast supply-chain network to offer kiranas and small- and medium-sized businesses (SMBs) access to an "exhaustive" range of merchandise and easy credit options. Read More...
Walmart Sells Indian Wholesale Business to E-Commerce Giant Flipkart
Walmart (NYSE: WMT) announced today it was selling its warehouse club-style Best Price Modern Wholesale business to the Flipkart Group, the Indian e-commerce giant in which Walmart has a majority ownership interest. The move will allow Walmart to position itself in India to better take on Amazon.com (NASDAQ: AMZN). The sale will allow Flipkart to launch a new digital marketplace called Flipkart Wholesale, set to open next month, which will use its vast supply-chain network to offer kiranas and small- and medium-sized businesses (SMBs) access to an “exhaustive” range of merchandise and easy credit options.
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