Walmart-owned Flipkart will buy the U.S. retail giant’s Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday.
FILE PHOTO: The logo of India’s e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019.
BENGALURU: Walmart-owned Flipkart will buy the U.S. retail giant’s Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday.
Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal.
Financial terms for the deal were not disclosed.
