May 11 2018
The SJM, which is the economic wing of the Sangh, claimed that Walmart is using e-commerce route to circumvent existing rules, which bar foreign companies in multi-brand retail and dubbed its acquisition of Flipkart a "back-door entry" into Indian market.
Sharma expects online grocery to be the fastest growing segment in the e-retail space, growing at a 65-70 per cent compounded average growth rate (CAGR) to touch $100-billion in revenues by fiscal 2020.
The deal hasn't gone down well with the tens of millions of small traders who for years used political muscle to slow the arrival of global retailers.
"If there's one thing we can learn from the recent Flipkart saga, it's this: never count out Walmart".
Walmart now operates 21 cash-and-carry wholesale stores in India, serving small businesses, after entering the country in 2009 through a joint venture with an Indian firm. JD.com will also serve as the online shopping platform for over 20 Walmart stores across China.
Walmart executives said they were particularly interested in PhonePe, Flipkart's mobile payments app, along with its fashion sites Myntra and Jabong.
Today, Indian e-commerce industry is already close to United States dollars 30 billion in size and analysts expect this to zoom to USD 200 billion by 2026.The growth of the sector was comfortably in sync with the meteoric rise of Flipkart.From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquartered company now has multiple offices across the country. India is the next big potential prize after the US and China, where foreign retailers have made little progress against Alibaba Group Holding Ltd.
The deal, reportedly worth around $15 billion (roughly Rs. 1 lakh crores), is expected to be announced officially later Wednesday, with Walmart CEO Doug McMillon in Bengaluru, where Flipkart is headquartered.
In a statement issued on Wednesday, Walmart said it would eventually look at the public listing of Flipkart as a majority-owned subsidiary though the company did not share a timeline for this.
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The last major reorganization within Flipkart came in early 2016 when Tiger Global brought in Binny Bansal as CEO and later reinstated Kalyan Krishnamurthy to the position. In announcing the deal, Walmart warned its shareholders that the purchase would reduce its net income by at least $750 million this year and by more than double that amount next year. The big advantage that Amazon always had over Flipkart was the unlimited cash it could plough into the growth of its Indian business.
Flipkart's stock options are granted over a four-year period, with employees allowed to vest them every month after a one-year threshold. This is an extension of Walmart's global expansion strategy. Walmart's deal makes Bansal's success even more important, considering the fact that several analysts had literally written off Flipkart few years back after it ceded substantial market share to Amazon.
Home to 1.3 billion people, India has seen the size of its middle class surge.
The board of directors of Amazon Seller Services passed the resolution at their meeting on April 26, 2018, it added.
Right now, Walmart is running 21 wholesale shops in India.
Going forward, the need to connect with consumers will become more intense, and online will continue to evolve as an increasingly attractive channel for distribution. Only user choice should be improved, with a greater range of Walmart private labels differentiating the merchandise.
The announcement also shows that a late, albeit unconfirmed, bid for Flipkart by Amazon, was rejected. However, this does not mean that they will be forced to exit.
Retail majors, including Kishore Biyani of the Future group, too, watched the deal with interest and told Business Standard that strategic deals with online players would be the future of retail in India.
As for its Flipkart deal, the firm is presumably celebrating it today.
May 10 2018
Walmart Seems To Have Leaked Several New Games Ahead Of E3 2018
We have to take all of this with a grain of salt for the time being, but these kinds of listings nearly always end up being legit. It's important to note these could just serve as placeholders instead of outing possible E3 2018 surprises.
May 09 2018
North Korean Leader Kim Jong Un Visits China Again, Meets Xi Jinping
In retaliation, the North had sent over balloons carrying anti-South leaflets, along with starting their own broadcasts. The latest encounter in China comes before a scheduled meeting between North Korea and the US.
May 09 2018
Alexa and Cortana Could Work Together to Assist You in the Future
It is the first known portfolio of podcasts to be made simultaneously available on both Alexa and Google Assistant in the UK. Though the implementation isn't flawless , support for Alexa as the default Android assistant will be a boon for many users.
May 08 2018
Elon Musk says he'll turn trash from tunneling into homes
The situation started to first come to light in an email from Musk to all employees that was leaked to Electrek a few weeks ago. A Berkshire Hathaway investor asked Buffett about Musk's point of view and Buffett's response nearly seemed a like dare.
May 07 2018
'Avengers: Infinity War' scores second best weekend
Although critics were not especially won over by " Overboard ", audiences gave the film a more favorable A- CinemaScore . From a worldwide standpoint, Box Office Pro reports that Infinity War has grossed $1.16 billion around the world.
May 06 2018
One of Waymo's self-driving minivans gets caught in a road crash
However, the information on what actions the Waymo minivan took after the sedan chose to swerved for avoiding another collision. Chandler police said the Waymo van was in autonomous mode with an occupant behind the wheel at the time of the crash.
May 06 2018
Sixers' Simmons says confidence high despite dismal outing
Embiid grabbed six rebounds to go with two points. "Adrenaline, when adrenaline takes over you don't really feel anything". They just looked me in the eye and they were back and forth and unsure, and I was like hey, I'm playing, that's it.
May 06 2018
Hodgson's warning for Palace over summer transfers
It may seem irrelevant, but to Wolves fans, it increases the likelihood that Jack Butland will be leaving the club in the summer. He refused to panic in the box for Palace's equaliser, instead picking an intelligent, sensible through-ball to McArthur.
May 05 2018
Alexei Navalny arrested as thousands in Russian Federation demonstrate against Vladimir Putin inauguration
It said in a protest in Yakutsk in the far northeast, 75 were detained but all have since been released. The rallies descended into clashes with police and more than 400 protesters were detained .
May 05 2018
Cong President Rahul Gandhi seeks answers from PM Modi on tainted candidates
The Congress, he said, would waive the loans of farmers within 10 days of coming to power at the Centre after the 2019 polls. Showering praises on seers and saints, the PM said that they have contributed immensely to the development of the nation.
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