E-commerce player Flipkart Group has acquired 100 percent stake in Walmart India, which operates the Best Price cash-and-carry business, and launched a new digital marketplace, Flipkart Wholesale.
The move will allow Flipkart to leverage the strong wholesale capabilities of the company and enable growth for kiranas and MSMEs. It will also strengthen the grocery business that is getting increasingly competitive.
“With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country,” Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said.
