Flipkart CEO Binny Bansal resigns after personal misconduct investigation

INDIA – Walmart owned Flipkart’s Chief Executive Officer (CEO), Binny Bansal has resigned from the company following an investigation into an alleged ‘serious personal misconduct’. According to the US retail giant, Binny has strongly denied the allegation and though the investigation did not find evidence to assert the allegations, it revealed a lack of transparency…

Walmart to offload 570 office workers onto outside company

USA – Walmart, the American multinational retail corporation is transferring 570 workers from finance and accounting department to an outside company which will help in the retailer’s financial operations. According to a New York Times report, willing workers will be hired by New York based global professional services firm, Genpact and will be based in Bentonville,…

Walmart India to invest US$500m in opening 47 more stores by 2022

INDIA – Walmart India has unveiled plans to invest US$500 million to open another 47 stores by 2022 to take the total number of outlets to 70, according to an ET Retail report. At the same time, the company is also planning to increase the number of fulfilment centres across the country. Krish Iyer, President…

Walmart unveils new last-mile delivery pilot to expand its grocery delivery services

USA - The American retail corporation Walmart has announced a new last-mile delivery pilot programme, Spark Delivery that will see timely grocery deliveries from their stores to customer’s front doors. Walmart is rolling out the system in Nashville and New Orleans with more launches to come in more metropolitan areas this year. The crowd-sourced delivery…

Competition Commission of India clears Walmart’s US$16bn Flipkart acquisition

INDIA- The Indian regulator has approved Walmart’s US$16 billion acquisition of India’s largest e-commerce firm Flipkart, its biggest takeover ever in a fast growing retail space. In May, Walmart announced the acquisition of 77% stake of Flipkart to beef up competition against its rival Amazon who acquired Whole Foods, the American organic products retailer for…

Walmart India plans 1,000 technology hires to build up ecommerce stronghold

INDIA - Walmart India is planning to hire about 1,000 people for technology operations in India as it embarks on its technology strategy to boost ecommerce platform in and outside India. ET Retail report indicated that Walmart has technology operations in Bengaluru and Gurgaon and currently has about 1,800 employees. The move is vital for…

Walmart to create 30,000 jobs with 15 new stores in Uttar Pradesh

INDIA - Walmart India plans to set up 15 stores in Uttar Pradesh that will see the creation of more than 30,000 local jobs after earlier identifying the state a growth priority area. This forms part of the Memorandum of Understanding signed between the retailer and the state government to open 15 wholesale Cash and…

Walmart India opens its second fulfilment centre in Lucknow

INDIA - Walmart India has opened its second fulfilment store in Lucknow, Uttar Pradesh with a goal to expand its wholesale presence in India, according to an article in the Economic Times. The centre aims to speed up operations and directly deliver grocery and general merchandise to Walmart's registered members of kiranas, hotels and other…

Walmart to open six stores in Northern India in ‘priority growth’

INDIA - The US multinational retailer Walmart Inc. is set to open six more stores in Uttar Pradesh expanding its footprint in the northern part of India as it forms part of its ‘priority growth’ region. ET Retail reported that the new stores will add to the already existing four outlets it operates in the…

Walmart looking to appoint foreign executives as CFO after it completes Flipkart acquisition

INDIA - Walmart Inc., the world’s largest retailer is looking to appoint foreign executives as Chief Financial Officer (CFO), legal counsel and compliance officer at Bengaluru-based Flipkart once it completes the acquisition transaction. Revealing sources familiar with the matter, ET Retail has reported that Walmart may consider hiring from its Asda unit in the UK,…