Flipkart buys Walmart’s India wholesale business
Flipkart logo. Image Credits: Manish Singh / TechCrunch. Sketched by the Pan Pacific Agency.
BENGALURU, Jul 23, 2020, Reuters. Walmart-owned (WMT.N) Flipkart will buy the U.S. retail giant’s Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday, Reuters reported.
Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal.
Financial terms for the deal were not disclosed.
Reporting by Sachin Ravikumar; Editing by Krishna Chandra Eluri
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