Flipkart Wholesale in final stages of consolidating Walmart India in its operations
PTI November 26, 2020
Flipkart Wholesale on Thursday said it is in final stages of consolidating Walmart India within its operations, and has extended offers to all employees of Walmart India's Home Office to join the digital business-to-business (B2B) marketplace.
In July, Flipkart announced the acquisition of Walmart India for an undisclosed amount, and launchof 'Flipkart Wholesale' to tap into the USD 650 billion B2B retail market in India.
In 2018, Walmart Inc invested USD 16 billion for acquiring 77 per cent stake in Flipkart, and earlier this year, led a USD 1.2 billion funding round in the e-commerce company.
During a town hall meeting on Thursday, Flipkart Wholesale Head and Senior Vice-President Adarsh Menon shared the company's focus on the technology-led transformation of B2B commerce and value proposition to help under-served businesses prosper, along with the company's people-centric growth orientation for employees.
He said leveraging the capabilities of Flipkart Group and Walmart India, Flipkart Wholesale is committed to bringing its scale and expertise to customers such as kiranas, MSMEs and HoReCas. It will also drive better business performance and growth while giving brands (national and international) access to a broader market and higher return on investment.
In a statement, Flipkart Wholesale said that as part of the final stages of the integration of Walmart India and Flipkart Wholesale, offers have been extended to all employees of Walmart India's Home Office.
Details of the number of employees were not disclosed.
Job offers made to employees at Walmart India have been aligned to corresponding roles at Flipkart in terms of compensation, responsibility and profiles based on industry best-practices, after consultation with external HR experts and in-line with future organisational planning, it added.
The Walmart India team will bring with them deep experience in merchandising and strong relationships with brands to Flipkart Wholesale, to build an organisation that is focused on transforming the wholesale retail industry while leveraging technology, the statement said.
Offers to employees will be rolled out in the coming days as employees join in January 2021, it added.
Over the past few months, Flipkart Wholesale has launched fashion in 16 cities across the country and will expand into new categories such as grocery in the coming months.