Walmart’s cash-&-carry biz may go to Flipkart
Posted On : Friday, January 24, 2020, 10:43 AM
Flipkart group is likely to acquire the loss-making wholesale cash-and-carry business of its parent US retail giant Walmart in India. The move comes shortly after talks with the Tata Group, which was looking to pick up a stake in Walmart India, made no headway. Sources said the Flipkart group, which operates Flipkart and Myntra, is looking at a reverse acquisition of the B2B segment of Walmart and it will function as a subsidiary of the group. Flipkart is expanding its footprint in the online food and grocery segment and the acquisition of the B2B business provides strength to the supply chain.