Flipkart buys Walmart India’s wholesale biz

Flipkart has acquired the Indian operations of Walmart Inc. as its US parent consolidates its operations in this fast-growing retail market to compete with Reliance Industries Ltd and Amazon, among others.

Flipkart will take over Walmart India Pvt. Ltd, which operates the Best Price cash-and-carry wholesale stores. It is expected to launch a digital marketplace, Flipkart Wholesale, which is in pilot mode, in August, to grow its business-to-business (B2B) vertical.

The acquisition brings Walmart’s entire portfolio in India under the Flipkart group, two years after it bought a majority stake in the homegrown e-tailer for $16 billion. The 28 Best Price stores will remain operational.