Flipkart has announced Flipkart Wholesale, a digital marketplace to serve local kirana stores and micro, small, and medium enterprises (MSMEs) in India. It is buying 100 percent stake in Walmart India, which is Walmart’s subsidiary that operates the Best Prime cash-and-carry business in the country. With this acquisition, Flipkart will take on Amazon and Reliance Industries’ JioMart in India.
Flipkart Wholesale is said to begin its operations in August. It will initially offer piloting services for the grocery and fashion categories. The company says local manufacturers and sellers have partnered with the Flipkart Wholesale business. The partners are claimed to receive a broader reach across the country. However, the names of initial partners are yet to be revealed.
“With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.