04 October 2016, India :
Flipkart has reportedly signed a non-disclosure agreement with Walmart before a team from the US arrived in India for talks last week to move ahead with the discussions about a strategic alliance.
Apart from Flipkart, the largest retailer also had a meeting with Snapdeal, probably to have a better overview of the market. Its been long enough that Walmart has set its base in India but with Amazon leading the market, it seems Walmart needs a strategic alliance.
Walmart started small, with a single discount store and the simple idea of selling more for less, has grown over the last 50 years into the largest retailer in the world. Today, nearly 260 million customers visit Walmart’S more than 11,500 stores under 63 banners in 28 countries and e-commerce sites in 11 countries each week.
With fiscal year 2016 revenue of $482.1 billion, Walmart employs 2.3 million associates worldwide – 1.5 million in the U.S. alone. It’s all part of unwavering commitment to creating opportunities and bringing value to customers and communities around the world, as the company stats. Image- dailypublic.com
Also read-
CAPILLARY TECHNOLOGIES ACQUIRES TECH STARTUP SELLERWORX
MAHINDRA HOLIDAYS ACQUIRES 12% STAKE IN NREACH