Walmart India’s losses widen to ₹299 cr in FY20
4 years, 2 months ago

Walmart India’s losses widen to ₹299 cr in FY20

Live Mint  

New Delhi: Walmart India Private Limited, which operates 28 wholesale stores under the Best Price Modern Wholesale format, reported net loss of ₹299.20 crore for the year ended 31 March, 2020. Walmart India, whose wholesale business was recently acquired by e-commerce major Flipkart Group, had reported a net loss of ₹171.68 crore in FY19, according to financial data accessed by business intelligence platform Tofler. In July, this year e-commerce major Flipkart Group acquired a 100% stake in Walmart India Pvt Ltd, which operates the Best Price cash-and-carry business. The reverse acquisition of the business-to-business segment of Walmart carried out earlier this year, was aimed at helping Flipkart expand its footprint in the food and grocery segment and strengthen its supply chain, Mint reported earlier.

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History of this topic

Flipkart sets sights on IPO launch within 12-15 months: Report
Trending News
2 weeks, 1 day ago

Flipkart sets sights on IPO launch within 12-15 months: Report

India Today  

Flipkart which is valued at $36 billion, is preparing to launch its initial public offering within the next 12-15 months, reported The Economic Times. The US retail giant has consistently expressed confidence in Flipkart’s growth potential, with executives highlighting strong performance in flagship events like the Big Billion Days sale. But now there's strong growth both in Flipkart and in …

When will Flipkart be listed? ‘Looking at right time’, may enter quick commerce segment
7 months, 1 week ago

When will Flipkart be listed? ‘Looking at right time’, may enter quick commerce segment

Hindustan Times  

Walmart's international president and CEO Kathryn McLay said that the US retailer is exploring the right time for its Flipkart business to go public. The firm's India unit has witnessed strong growth, Kathryn McLay said during the company's earnings call. They are on track to the growth trajectory that we had them on, and we are looking and exploring when …

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales
10 months ago

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales

Hindustan Times  

Flipkart’s annual Big Billion Day sales boosted US retail major Walmart’s sales in the quarter ending January although it hurt the company’s profit margin for the period. The Big Billion Day- Flipkart's annual festive sale event in October 2023 touted as the ‘largest ever’- brought 1.4 billion customer visits to the platform, a top Walmart executive said. Walmart's Q4 profits …

India's online shopping market: Which is better? Flipkart, Amazon or Meesho
10 months, 3 weeks ago

India's online shopping market: Which is better? Flipkart, Amazon or Meesho

Hindustan Times  

Walmart-owned Flipkart is leading India's e-commerce segment with 48% market share, AllianceBernstein said in a new report. Softbank-backed Meesho has emerged as the fastest growing ecommerce platform in terms of users in India while Flipkart's users grew 21% year-on-year. The e-tailer is growing faster than the industry in the country, the report said, adding, “As of FY23, Flipkart was the …

Flipkart, Swiggy to cut jobs as part of restructuring
10 months, 4 weeks ago

Flipkart, Swiggy to cut jobs as part of restructuring

New Indian Express  

BENGALURU: Both Flipkart and Swiggy are reportedly letting go of 1,000 and 400 employees, respectively, as part of their restructuring exercise. Though mails to both the companies did not elicit any response, sources said Flipkart will let go of a few employees as part of its annual restructuring and that the number is not yet fixed. Flipkart had previously imposed …

Flipkart Layoff: Ecommerce player set to let go 1,500 employees | Know-why
11 months, 2 weeks ago

Flipkart Layoff: Ecommerce player set to let go 1,500 employees | Know-why

India TV News  

Flipkart, one of the popular e-commerce platforms of India is reportedly planning to reduce its workforce by 5-7 per cent in early 2024 which may affect nearly 1,500 employees. E-commerce major Flipkart had a total revenue of Rs 56,013 crore in the 2023 financial year, according to data from business intelligence platform Tofler. The company reported a net loss of …

Meta-backed Meesho is beating Amazon, Walmart in race for Indian shoppers
2 years, 2 months ago

Meta-backed Meesho is beating Amazon, Walmart in race for Indian shoppers

Live Mint  

An upstart e-commerce service is winning more new shoppers in India than Amazon.com Inc. and Walmart Inc.’s Flipkart, posing a challenge to the U.S. retailing titans, which have plowed billions of dollars into the world’s biggest untapped digital market. Bengaluru-based Meesho is leading the burgeoning social-commerce sector, allowing users to sell items by sharing product listings with friends via Meta …

India has a unique role to play in global economy: Walmart
2 years, 3 months ago

India has a unique role to play in global economy: Walmart

The Hindu  

India, with its deep pool of talent, proven ability to leapfrog existing digital technologies and extensive manufacturing expertise, has a unique role to play in the global economy, said Judith McKenna, President and CEO of Walmart International. “We’re building on what we’ve learned here in India, creating opportunities and access for customers and businesses that they never had before,’‘ she …

India, Mexico markets push Walmart global business grow 13% in Q2
3 years, 4 months ago

India, Mexico markets push Walmart global business grow 13% in Q2

The Hindu  

US retail giant Walmart saw its operations in markets such as India, China and Mexico push its international business growth by 13% in the second quarter ended July 31, with e-commerce continuing to expand its share in the segment. Net sales grew nearly 13 per cent in constant currency including strength in India, Mexico and China," Walmart president and CEO …

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart
3 years, 4 months ago

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart

News 18  

Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said …

Walmart-Owned Flipkart Raises USD 3.6 Billion In Funding, Now Values At 37.6 Billion
3 years, 5 months ago

Walmart-Owned Flipkart Raises USD 3.6 Billion In Funding, Now Values At 37.6 Billion

ABP News  

Mumbai: Walmart-owned Flipkart has raised $3.6 billion in the new caption from its promoters and investors, SoftBank Group Corp, valuing the e-commerce firm at $37.6 billion, more than double the amount, for which US retail giant bought a 77 percent stake in 2018. The investors in the latest funding include financial investors GIC, Canada Pension Plan Investment Board, SoftBank Vision …

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion
3 years, 5 months ago

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion

India TV News  

Flipkart Group on Monday said it has raised USD 3.6 billion in funding led by GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at USD 37.6 billion. The current funding round has The investment values the Group at USD 37.6 billion post-money, Flipkart said in a statement. As we serve our consumers, …

Flipkart IPO: Walmart says ready for e-commerce giant's IPO but no specific timeline yet
3 years, 6 months ago

Flipkart IPO: Walmart says ready for e-commerce giant's IPO but no specific timeline yet

India TV News  

US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International President and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "But if …

Flipkart Likely to Opt for Traditional US IPO Between October-December This Year: Report
3 years, 8 months ago

Flipkart Likely to Opt for Traditional US IPO Between October-December This Year: Report

News 18  

Flipkart, owned by Walmart, is likely to go for an IPO between October and December this year. According to an exclusive report by Bloomberg, Walmart has set up an internal IPO team for Flipkart and is leaning toward a traditional debut in the United States The report further states that the startup’s valuation could top USD 35 billion as it …

Flipkart Internet sees losses widen to Rs 1,950 crore in FY20
4 years ago

Flipkart Internet sees losses widen to Rs 1,950 crore in FY20

India TV News  

Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 per cent, as per regulatory documents. Its consolidated net total income was at Rs 6,318.7 crore for 2019-20 as against Rs 4,803 crore in the previous financial year, a …

Flipkart narrows loss to Rs 3,150.6 crore in FY20
4 years ago

Flipkart narrows loss to Rs 3,150.6 crore in FY20

India TV News  

Flipkart India, the B2B arm of Walmart-owned Flipkart, has narrowed its losses to Rs 3,150.6 crore during 2019-20 as compared to the previous financial year, according to regulatory documents. The unit had posted a loss of Rs 3,836.8 crore for the financial year ended March 31, 2019, documents filed with the corporate affairs ministry showed. "During the financial year ended …

Walmart, Flipkart invest $30 million in Ninjacart
4 years, 2 months ago

Walmart, Flipkart invest $30 million in Ninjacart

Live Mint  

US-based retailer Walmart Inc. and Flipkart Group have made an additional investment in Bengaluru-based fresh produce supply startup Ninjacart, the companies said in a joint statement on Monday. Kalyan Krishnamurthy, CEO, Flipkart Group said the e-grocery market has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online. “At the …

Walmart's Flipkart Starts Wholesale E-commerce Service in India
4 years, 3 months ago

Walmart's Flipkart Starts Wholesale E-commerce Service in India

News 18  

India’s Flipkart launched an online wholesale service for mom-and-pop stores and other small businesses on Wednesday, as the Walmart-owned firm seeks to better compete with Amazon and other players in a battleground market for e-commerce. Flipkart, majority-owned by Walmart Inc, bought the U.S. retail giant’s wholesale business in India in July. Amazon.com Inc and other e-commerce players including online grocery …

Walmart's Flipkart to Offer 90-minute Delivery of Groceries and Home Accessories in India
4 years, 4 months ago

Walmart's Flipkart to Offer 90-minute Delivery of Groceries and Home Accessories in India

News 18  

India's Flipkart said on Tuesday it plans to offer 90-minute deliveries for groceries and home accessories, as the Walmart-owned online retailer goes head to head with Amazon.com Inc in a key growth market for e-commerce. Flipkart said its hyperlocal service, dubbed Flipkart Quick, will also sell mobile phones and stationery items, taking it a step further than Amazon's quick-delivery service …

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn
4 years, 5 months ago

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn

The Quint  

Indian e-commerce giant Flipkart has raised $1.2 billion in a funding round led by its majority stakeholder Walmart along with other existing shareholders. This is the largest fund raising for Flipkart since Walmart acquired the retail platform two years ago for $16 billion. Flipkart CEO Kalyan Krishnamurthy, in a statement, said, “Since Walmart’s initial investment in Flipkart, we have greatly …

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