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…
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…
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…
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…
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…
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,…
USA - Walmart Inc., the American chain of hypermarkets has entered into a strategic partnership with Microsoft Corp for wider use of cloud and artificial intelligence technology that for faster, convenient and easier shopping by customers at its stores. The five-year agreement will see Walmart utilize Microsoft’s cloud solutions, which is Microsoft Azure and Microsoft…
JAPAN- The US multinational retailer Walmart Inc. is looking to exit the Japanese market with the sale of its supermarket chain Seiyu for between US$2.7 billion and US$4.5 billion, Nikkei business daily reported without citing source of information. The move comes in the middle of persistent deflation, competition and rising ecommerce from online retailers such…
USA - The American multinational retail corporation, Walmart has inaugurated a new dairy processing plant in Fort Wayne, Indiana, its first food production facility in the United States. The facility will produce liquid milk sourced from 30 dairy farms in Indiana and Michigan, serving some 500 Walmart stores in Illinois, Indiana, Ohio, Michigan and Northern…
USA - The American retail giant, Walmart’s revenue rose almost 2% higher than the forecasts to US$122.69 billion boosted by US online sales which grew 33% in the quarterly results. Earnings were up to US$1.14 cents per share as opposed to US$1.12 per share forecast by Thomson Reuters. Walmart e-commerce push reaped well on high…
