by Apparel Resources News-Desk
24-July-2018 | 2 mins read
After Amazon India’s successful Prime Day Sale, home-grown e-commerce player Flipkart is also gearing up for its big billion days (BBD) sale. For which, it is eyeing to triple its delivery and warehousing workforce to 1,00,000.
India-based e-retailer is also looking to temporarily increase its storage capacity just ahead of its exclusive BBD sale that is scheduled to take place later this year (October). Flipkart is anticipating 80 per cent rise in terms of size with this year’s sale as compared to the previous year.
Notably, with Walmart and Flipkart deal in its last stages, Flipkart is trying to tap the majority of the market with its upcoming flagship sale.
Additionally, the world’s leading retailer Walmart, who acquired 77 per cent stake in India-based e-retailer Flipkart, is expecting the record US $ 16 billion deal to be finalised soon. The US-based retailer is still waiting for approval from the country’s trade regulatory body Competition Commission of India (CCI).
Walmart India President & CEO, Krish Iyer said that the retailer is expecting timely approvals from the trader’s body and that the deal should be finalised in a reasonable time period. “Basic approval is in CCI’s hand and its already in progress,” he added.
However, he refused to reveal anything about the timeline that the company has in mind for the transaction to be completed. He further said that it is all based on the law and the company is waiting for the approval.
The CEO also reportedly affirmed the media that once the transaction takes its final stage, both Walmart and Flipkart will continue to work as separate companies in the country.
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