As the ecommerce market in India is growing stronger every year, competition between retailers like Walmart, Amazon and Alibaba is intensifying.
Walmart’s chief technology officer Jeremy King said the company would continue to expand aggressively in India, where it built out its largest technology centre outside its home market a few years ago. King, however, declined to comment on Walmart’s current talks with Flipkart, reports LiveMint.com
Rumours about a possible acquisition of Flipkart by Walmart have been circulating in March.
Mint first reported on 17 February 2018 that Walmart may end up taking a large stake in Flipkart at a price that could value India’s largest ecommerce company between USD 20-23 billion. The Economic Times had reported on 31 January 2018 on the initial talks between Walmart and Flipkart.
Aware of serious competition from Amazon, Walmart has ramped up its ecommerce operations both at home and overseas. In spite of these efforts, the US-based retailer, still comes second after Amazon, as digital research firm eMarketer reports that Amazon currently holds a 43% share of the US ecommerce business, while Walmart has less than a 4% share.
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