Headlines

Walmart Acquires Flipkart

Purchase could put Walmart ahead of Amazon in India

Published

7 years ago

May 8, 2018

kmpeyton

Walmart Stores Inc. (Bentonville, Ark.) has won a bid to acquire India’s largest e-commerce site Flipkart for $15 billion. The move could potentially set back its competitor Amazon (Seattle) by 32 percent of the market share in the country.

The deal was approved by Flipkart’s board and included a 75-percent stake sale to Walmart’s group of investors, including Google’s Alphabet (Mountain View, Calif.). Walmart CEO Doug McMillon has made clear that he would like to expand the company’s customer base beyond the United States as the market becomes saturated, to areas such as Brazil, India and Europe.

Amazon has been attempting to gain a foothold in the region, CEO Jeff Bezos touting more Prime members in India in its first year than in any other area. But competing for market share against Flipkart has proven costly, according to Forbes, with losses doubling in 2017 from $1.2 billion the previous year to fend off the retailer’s competition.

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