Page 5 - Walmart

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

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.

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

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 ...

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

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

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

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

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

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'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 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

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

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

PhonePe adds former revenue secretary, 2 Walmart executives to its board

The strengthening of PhonePe's board comes at a time when the government is tightening the regulatory framework. PhonePe's rival Paytm is already facing multiple issues

Trident Ltd Q3 results: Profit down 25% to Rs 109 crore on rise in expenses

Shares of Trident - which supplies products to department stores such as Shoppers Stop, D-Mart and Walmart - closed 2.6% lower after the results

Paytm crackdown spooks merchants; Walmart, Google targeting same vendors

Cash was once king in India, but Paytm is credited with revolutionising India's digital payments market which is set to be worth $10 trillion by 2026

Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years

Flipkart Internet, the marketplace arm of the e-commerce giant, recently reported a 42 per cent growth in operating revenue for FY23 at Rs 14,845 crore

Flipkart to reduce its workforce by 5-7% based on performance by April

The Indian e-commerce giant is also about to close $1 billion in financing from Walmart

Toys to have major share in Walmart's $10 bn Indian exports target: DPIIT

US-based retail giant Walmart is targeting to increase its exports from India to USD 10 billion annually and domestic toys will account for a significant portion of the total exports, a senior government official said on Thursday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the American company has recently held a workshop with 100 Indian toy makers so that they can set up the supply chain for toy exports from India. "Walmart has given a target of USD 10 billion exports from India and in that they are going to have toy exports as a significant portion," he told reporters here. The company has earlier informed toy makers about their requirements and expected quality standards. In December 2020, Walmart committed to triple its exports of goods from India to USD 10 billion each year by 2027, providing a significant boost to micro, small and medium-sized enterprises (MSMEs) here. Global retailers such as IKEA are already sour