Flipkart announced that it’ll acquire 100% of the simplest Price cash-and-carry business that was operated by Wal-Mart India Private Limited. The current 28 stores also because the e-commerce channels will remain operational, servicing their 1.5+ million members.
However, this may cause the launch of Flipkart Wholesale, a replacement digital marketplace aimed toward Kirana stores (small mom-and-pop shops) also as Micro, Small, and Medium Enterprises (MSME).
The pilot run of Wholesale will begin next month and can specialise in the grocery and fashion categories. Going forward, the goal is to assist kiranas and other small businesses by “leveraging cutting-edge and locally developed technology”.
The businesses will have access to a good selection of products, supplied by India’s top brands, local manufacturers and sellers who have partnered with Flipkart Wholesale. The partners themselves will enjoy Wholesale’s wide distribution network.
The store owners are going to be given access to easy credit options and can be supported by various Flipkart initiatives to assist them survive the difficulties of the COVID19-affected market and to grow within the future.
Flipkart Wholesale are going to be headed by Flipkart veteran Adarsh Menon. CEO of Walmart India Sameer Aggarwal will remain on board to assist smooth the transition before avoiding to a different assignment inside Walmart.
Note that in August 2018 Walmart acquired a controlling 77% stake in Flipkart for USD 16 billion, therefore the US retail giant remains heavily involved the simplest Price stores and therefore the new Wholesale operation.
“Today marks subsequent big step as Walmart India’s pioneering cash-and-carry legacy meets Flipkart’s culture of innovation within 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 assist Indian businesses to grow and succeed. we glance forward to a bright future for Flipkart Wholesale,” said Judith McKenna, President, and CEO of Walmart International.