Walmart Buys Majority Stake In India’s Flipkart, Sees Stronger Capabilities In Online Market

Walmart has acquired 77 percent of India’s online retailer Flipkart for $16 billion. According to the US retail giant, the deal great improves its ability to compete in the country’s online retail market, against its biggest rival Amazon in particular. Walmart International executive vice president, president, and CEO Judith McKenna said, her company is expected to benefit from Flipkart’s online platform or ecosystem. Mckenna said Walmart also plans to integrate lessons learned from Flipkart’s operations with the company’s international operations. [Image Credit: © Alexandra / Munchen from Pixabay.com]