Business Standard

Walmart

World wars in Retailville

As Amazon turns 30, Clash is a timely book that explores the fierce rivalry between retail giants Amazon and Walmart, and examines their impact on the retail landscape and customers

World wars in Retailville
Updated On : 09 Jul 2024 | 10:08 PM IST

Govt steps help boost toy making, exports; more work needed: DPIIT secy

Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh also indicated that they are diligently pursuing the proposal of extending fiscal incentives under the production-linked incentive scheme for the sector. He said that the industry is wondering about one proposed major policy intervention and "let me assure you that we are still pursuing that". In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector. As the scheme is yet to be cleared by the Union Cabinet, the interim Budget has made a token provision of Rs 1 lakh towards the scheme for 2024-25. The scheme a

Govt steps help boost toy making, exports; more work needed: DPIIT secy
Updated On : 12 Jun 2024 | 4:17 PM IST
Updated On : 08 Jun 2024 | 8:40 PM IST

Nvidia's Huang now richer than every member of Walmart's founding family

Huang's net worth jumped to $91.3 billion Thursday, bumping him up three spots on the Bloomberg Billionaires Index to become the 17th-richest person in the world

Nvidia's Huang now richer than every member of Walmart's founding family
Updated On : 24 May 2024 | 8:16 AM IST

Walmart shares surge, market value hits $500 billion as results impress

Its shares climbed 7 per cent, the most since March 2020, to close at an all-time high of $64

Walmart shares surge, market value hits $500 billion as results impress
Updated On : 17 May 2024 | 7:28 AM IST

Retail giant Walmart to fire hundreds of corporate staff, relocate others

Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings

Retail giant Walmart to fire hundreds of corporate staff, relocate others
Updated On : 14 May 2024 | 10:15 PM IST

Amazon's secret Project Curiosity used to gather intel on rivals for years

E-commerce giant Amazon used a company called Big River to gather intel on competitors, especially targeting Walmart, which back Flipkart in India

Amazon's secret Project Curiosity used to gather intel on rivals for years
Updated On : 19 Apr 2024 | 3:20 PM IST

Walmart announces dedicated page for Indian sellers on its website

Multinational retailer Walmart announced the launch of a dedicated page for Indian sellers to register and sell on the company's marketplace site. The company hosted a global seller meet in Jaipur on Tuesday, kicking off a series of regional events to help prospective sellers with insights and knowledge on consumer and category trends and assist with onboarding support and catalogue setup, a release said. "India is a priority market for Walmart, and the dedicated landing page builds upon our commitment to Indian sellers. Walmart Marketplace strives to unlock the potential of Indian businesses by giving sellers access to customers around the world," Michelle Mi, Vice President of Emerging Markets and Business Development for Walmart stated in the release. "Through dedicated onboarding support and expertise in navigating global supply chains, we are empowering sellers with the tools they need to thrive in the US marketplace and beyond," the release added.

Walmart announces dedicated page for Indian sellers on its website
Updated On : 18 Apr 2024 | 8:57 PM IST

Operationally profitable for two quarters: Fashion platform Myntra

Brands on Myntra have recorded strong year-on-year (YoY) growth, with the catalogue size on the platform also having grown by over 50 per cent in the last year

Operationally profitable for two quarters: Fashion platform Myntra
Updated On : 26 Mar 2024 | 10:42 PM IST

Flipkart valuation declines by over Rs 41,000 cr in two years, says Walmart

E-commerce firm Flipkart's valuation has declined by USD 5 billion or around Rs 41,000 crore as of January 2024 compared to that in January 2022, according to equity transactions carried out by its US-based parent firm Walmart. The valuation of the e-commerce firm declined to USD 35 billion as of January 31, 2024, from USD 40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart. Flipkart attributed the decline in valuation to the demerger of fintech firm PhonePe into a separate company. Sources, however, peg the current valuation of Flipkart in the range of USD 38-40 billion. Walmart diluted 8 per cent equity in Flipkart for USD 3.2 billion in fiscal year (FY) 2022 reflecting the enterprise value of the e-commerce at USD 40 billion. The US retail giant in FY2024 increased its shareholding by 10 per cent to approximately 85 per cent by paying USD 3.5 billion, reflecting the enterprise valuation of Flipkart at USD 35 ...

Flipkart valuation declines by over Rs 41,000 cr in two years, says Walmart
Updated On : 17 Mar 2024 | 2:54 PM IST

Google, Walmart gain fintech users from India as Paytm faces restrictions

Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems

Google, Walmart gain fintech users from India as Paytm faces restrictions
Updated On : 06 Mar 2024 | 10:30 PM IST

Flipkart Internet receives Rs 924 cr infusion from its Singapore entities

Flipkart is also currently in discussions to raise up to $1 billion, with parent company Walmart committing to inject $600 million

Flipkart Internet receives Rs 924 cr infusion from its Singapore entities
Updated On : 04 Mar 2024 | 10:30 AM IST

Walmart launches Centre for Tech Excellence at IIT Madras for AI adoption

The idea is to leverage cutting-edge solutions in artificial intelligence (AI) and digitisation to enhance operational efficiency and profitability for MSMEs

Walmart launches Centre for Tech Excellence at IIT Madras for AI adoption
Updated On : 28 Feb 2024 | 5:20 PM IST

PhonePe to go global in a couple of months, says CEO Sameer Nigam

The Bengaluru-headquartered company is expected to announce its international plans over the next couple of months

PhonePe to go global in a couple of months, says CEO Sameer Nigam
Updated On : 28 Feb 2024 | 12:17 AM IST

Flipkart in talks to potentially acquire Reliance-backed startup Dunzo

Despite having raised approximately $500 million to date, Dunzo has faced increased competition in the hyperlocal delivery segment

Flipkart in talks to potentially acquire Reliance-backed startup Dunzo
Updated On : 21 Feb 2024 | 9:13 AM IST

Walmart to acquire Vizio for $2.3 bn, sales outlook, dividend lift shares

The retailer reported a 3.9 per cent rise in comparable sales, excluding fuel, for the quarter ended Jan 31

Walmart to acquire Vizio for $2.3 bn, sales outlook, dividend lift shares
Updated On : 20 Feb 2024 | 10:48 PM IST

Walmart's International Q4 sales growth driven by Flipkart, Mexico, China

Walmart International comprises the retail giant's operations outside the US, including retail websites

Walmart's International Q4 sales growth driven by Flipkart, Mexico, China
Updated On : 20 Feb 2024 | 9:37 PM IST

Walmart in talks to buy TV maker Vizio for more than $2 billion: WSJ

The talks come at a time Walmart is increasingly monetising its reach and troves of shopper data to sell ads on its properties including its website and store assets such as digital diplays

Walmart in talks to buy TV maker Vizio for more than $2 billion: WSJ
Updated On : 14 Feb 2024 | 7:45 AM IST

Instacart to cut 250 jobs as slowing ad biz counters upbeat Q1 forecast

Ad and other revenues increased 7 per cent in the fourth quarter, compared with a 19 per cent growth in the previous quarter

Instacart to cut 250 jobs as slowing ad biz counters upbeat Q1 forecast
Updated On : 14 Feb 2024 | 7:33 AM IST

Walmart procured goods worth $30 bn from India in 20 yrs for global ops

Walmart has sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations, a company official said on Tuesday. Now the Bentonville-headquartered firm has a goal to triple its sourcing of goods from India up to worth USD 10 billion per year by 2027, said Walmart Inc Executive Vice President, Sourcing Andrea Albright. Walmart is encouraging MSMEs (Micro, Small and Medium Enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India's growing economy, she said. The company has been doing business in India for the last 25 years, Albright said. "We have already sourced more than USD 30 billion in products from India," she said speaking at the Walmart Growth Summit here. The company is building an ecosystem and taking a people-led approach to connect its work across the country. "Investing in high growth markets like India helps us strengthen our relationships

Walmart procured goods worth $30 bn from India in 20 yrs for global ops
Updated On : 13 Feb 2024 | 5:24 PM IST