Walmart to open 50 new stores in India in 4-5 yrs

Flipkart-Walmart deal an incredible outcome for the company's believers Paytm's Vijay Shekhar Sharma

"Flipkart's scale of business will grow immensely post the deal with Walmart as the U.S. retailer has deep pockets and better experience in handling global market", said Nrusingha Charan Barik, who is in charge of the delivery partner of Flipkart in Odisha.

With its investment in Flipkart, Walmart will be able to penetrate the Indian online retail market, in a country where it would've struggled to open its own e-commerce business, given that India doesn't permit foreign investment in online retailing, says Mihir Sharma.

The US bricks and mortar retail giant bested its US counterpart Amazon after the ecommerce firm reportedly made a competing offer to acquire Flipkart that ultimately failed.

"As a company, we are transforming globally to meet and exceed the needs of customers and we look forward to working with Flipkart to grow in this critical market", he said.

Walmart's acquisition of Flipkart has been a cause of celebration for many former and current employees of Flipkart (Flipsters as they call themselves) who have shares (via employee stock options or ESOPs) as they have struck gold, a few of them even becoming millionaires overnight.

India's online retail industry is expected to hit $73 billion (roughly Rs. 4.9 lakh crores) a year by 2022 and predicted to grow to $200 billion (roughly Rs. 13.5 lakh crores) in a decade as its middle-class customer base grows every year and smartphone penetration increases.

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With Flipkart set to become Walmart, the Indian retailer's last steps as an independent company may prove to be Walmart's first steps to redeem its Indian leg of the business reports theEconomic Times. We are also excited to be doing this with Tencent, Tiger Global and Microsoft, which will be key strategic and technology partners.

After failing to make a serious dent in other big foreign markets such as China, Brazil, Germany and UK, US retail behemoth Walmart wants India to be its foreign success story.

In the blog, Accel's partners admitted that they were way off in their original assumption was Flipkart would require around $500 million in additional capital to reach break-even, despite realising that the company would need to be financed in an unprecedented fashion.

With the right regulatory framework, what's to stop India's own large businesses such as the Tata Group to strike deeper relationships with the global retail companies than their existing ones which have barely scratched the surface, in the context of the potential of India's retail market that everyone seems to agree upon.

While Walmart and Flipkart will leverage the combined strengths of both companies, both will maintain distinct brands and operating structures. "It is to be noted that nowhere in the world, Walmart has a market place model", he said in his letter. Sachin Bansal will sell his 5.5 percent stake in Flipkart for an approximate value of Rs 7650 crore. The US company can not open physical stores in India, according to rules governing the multi-brand retail sector. The Japanese conglomerate had pumped in $2.5 billion into Flipkart a year ago.

SoftBank is among investors who are to benefit the most out of exiting Flipkart.

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