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 US $16-billion deal struck with US retail giant Walmart.
According to a PTI report: 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 acquisition of 77 percent stake in Flipkart for about US $16 billion in its biggest deal till date. The deal values the 11-year old Indian e-commerce firm at US $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 was quoted by PTI as saying.
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 was further quoted by PTI as saying.
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.