Ecommerce giant Flipkart Group has acquired Walmart’s loss-making B2B wholesale store, Best Price Modern Wholesale, to launch its own service ‘Flipkart Wholesale’ in a bid to expand its presence in the food and retail segment.
Flipkart Wholesale will launch operations in August 2020 and will pilot services for the grocery and fashion categories. It will be headed by Flipkart veteran Adarsh Menon and Walmart India CEO Sameer Aggarwal will remain with the company to ensure a smooth transition. Once the transactions and deal is complete, Agarwal will move to another role within Walmart.
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