New Delhi: Flipkart's Chief Executive Officer Kalyan Krishnamurthy has reached out to sellers on its platform and sought to reassure that there will be no changes in the operating processes of the Bengaluru-based firm as a result of the $16-billion deal struck with US retail giant Walmart.
Flipkart and Walmart will maintain distinct brands and operating structures post this investment, he said promising that Flipkart will continue to remain a marketplace where sellers from around the country can connect with customers.
Krishnamurthy said the company's focus on making sellers succeed will continue with the "same vigor as in recent years".The Bentonville, Arkansas-based retail behemoth Walmart Inc on Wednesday announced the acquisition of 77 percent stake in Flipkart for about $16 billion in its biggest deal till date. The deal values the 11-year old Indian e-commerce firm at $20.8 billion.
"We will keep making deep investments in technology, innovation, supply chain and business processes to grow the e-commerce market even more in the coming years, with the aim to increase the number of people shopping online, and the average spends," Krishnamurthy said in a communication to sellers last evening. Flipkart says it has 1.6 lakh sellers on its platform.
"As you know, Flipkart has constantly optimised operations and passed on the benefits resulting from such efficiencies to sellers, thus, empowering them to deliver an even more fulfilling experience to customers. With Walmart on board, we are committed to doing more of the same," he said.
Stating that the company wanted its sellers to "thrive", he said the firm will continue to extend all support to ensure the same.
Meanwhile, a spokesperson of the All India Online Vendors Association (AIOVA), which has 3,500 sellers on large platforms like Flipkart and Amazon, said it is "closely going to monitor how Walmart is increasing its control over Flipkart marketplace".
The seller community had previously rued that they were not kept in the loop on the protracted talks that had been going on between Walmart and Flipkart for many months, before the deal was sealed.
Updated Date: May 11, 2018 07:54 AM