Report: Walmart contemplates investing in Flipkart
A discount giant is evaluating a plan that could make it more competitive in India.
Walmart is considering acquiring a 15%-20% stake in India’s leading e-commerce provider, Flipkart, in a move would allow the two companies to combine synergies and better compete with Amazon in India, according to the Economic Times.
Walmart CEO Doug McMillon led a delegation that visited Flipkart's Bengaluru office early last week, the report said. Other members of the team included Walmart e-commerce CEO Marc Lore and Judith McKenna, who will take over as president and CEO of Walmart International on February 1. She's currently COO of Walmart.
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Walmart is considering acquiring a 15%-20% stake in India’s leading e-commerce provider, Flipkart, in a move would allow the two companies to combine synergies and better compete with Amazon in India, according to the Economic Times.
Walmart CEO Doug McMillon led a delegation that visited Flipkart's Bengaluru office early last week, the report said. Other members of the team included Walmart e-commerce CEO Marc Lore and Judith McKenna, who will take over as president and CEO of Walmart International on February 1. She's currently COO of Walmart.
To read more, click here.