The US retail goliath that acquired 77 percent stake in India’s e-commerce platform Flipkart in 2018 for $16 billion is witnessing a dark fate of losses ever since it entered India with its brick and mortar stores.
Walmart currently operates 28 wholesale stores in India. According to a previous report from the Times of India, the Tata Group was looking for acquiring a 49 percent stake in the company but the idea didn’t go forth.
As reported by the Times of India earlier today, the present case of dissipation of Walmart in India is gravitating its decision of selling its cash-and-carry business to Flipkart.
JOIN US TO STAY UPDATED ON YOUR FAVORITE MESSENGER APP!
Flipkart is gallantly expanding its footprint in the online food and grocery landscape, thus this reverse acquisition will help strengthen the supply chain for Walmart.
ⓘ As part of our ongoing support for startups and SMEs, LAFFAZ Media publishes feature and resource articles that may include references and links to external websites. These inclusions are selected at our editorial discretion to provide valuable information to our readers. LAFFAZ Media does not control, endorse, or assume responsibility for the content or practices of external websites. For more details, please refer to our Terms and Conditions.
