Walmart-owned Flipkart appoints Jane Duke as Chief Ethics & Compliance Officer to strengthen governance ahead of its India IPO, while advancing a corporate merger to align its legal domicile with operations.
Supreme Court is due to rule on whether capital gains tax applies to Tiger Global’s 2018 sale of its Flipkart stake to Walmart, a case closely watched by foreign investors for its implications on tax treaty interpretation.
The Big Fashion Festival witnessed strong traction from smaller cities as shoppers leaned towards ethnic, jewellery and luxury categories Walmart-owned fashion retailer Myntra said it added two million new customers during its annual Big Fashion Festival (BFF), with nearly 70 per cent of total orders coming from non-metro cities. Shoppers from Jaipur, Lucknow, Indore, […]
The report states that the United States (US) clients will bear the costs of the new import duties
E-commerce marketplace Flipkart, owned by US-based retail giant Walmart, has witnessed a substantial dip in valuation, plummeting by approximately USD 5 billion or around Rs 41,000 crore as of January 2024 compared to its value in January 2022. This decline is revealed through equity transactions executed by Walmart, Flipkart’s parent company. According to Walmart’s restructuring […]
Flipkart had its best Big Billion Days (BBD) in 2023, driving Walmart’s foreign sales growth in the fourth quarter of FY24. During the quarter, the US-based retailer’s overseas sales rose 17.6 per cent year on year (YoY) to USD 32.4 billion. In constant currency terms, revenues for the category increased by 13 per cent YoY to USD 31.2 billion. Other […]
Walmart is reportedly in discussions to acquire smart-TV manufacturer Vizio for over USD 2 billion, potentially securing more than a fifth of the U.S. television market and strengthening its advertising business. The proposed offer is almost 30 per cent higher than Vizio’s market cap of USD 1.54 billion on Monday. Walmart aims to leverage Vizio’s […]
Indian textiles firm Trident reported a nearly 25 per cent drop in its third-quarter profit, hurt by a rise in expenses, even as consumers bought more home linen during the festive season. Trident, which counts cotton as its principal raw material, reported a 16 per cent increase in overall expenses for the quarter that ended 31 December with raw […]
Walmart on Wednesday said that it wants to build or convert more than 150 shops over the next five years, as well as refurbish existing ones. Walmart said in 2016 that it was halting new store openings and instead investing in online activities, technology, and shop remodels to compete with Amazon. A company spokesman stated that the […]
American retail company Walmart is set to harness artificial intelligence (AI) in its drone delivery looking forward to improving its customers’ shopping experiences. Unveiling the plan, the multinational retailer said the goal is to reach 1.8 million additional households in the Dallas-Fort Worth metropolitan area later this year. Walmart has been utilising drone delivery for […]
