Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in August

Flipkart on Thursday announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the $650 billion B2B retail market in India.

Walmart India runs 28 Best Price wholesale stores in the country.

The announcement comes a week after Flipkart had said it had raised $1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested $16 billion for acquiring 77 per cent stake in the group.

Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India.