Walmart's global empire
The world’s largest retailer, Walmart, has an international reach of 6,360 stores across five continents. According to Bloomberg, the contribution of its international business to total revenue has reduced from about 30 percent five years back, to less than one-quarter of its total revenue. Reason? Competition, store closures and weak economies. With Doug McMillon as CEO, the company has seen a strategic change – buying e-commerce startups and focusing on potential markets like China and India. In the context of Walmart’s mega deal with one of India's largest ecommerce portals, Flip
Curated By: Forbes India
At one point, ASDA in UK was the shining star of Walmart’s international business. The US-based retail giant in 1999 had paid $10.9 billion to buy Britain's ASDA, according to the Associated Press.
But with e-commerce on the rise, Walmart might cede control of ASDA to a competitor. Currently, ASDA is in talks with Sainsbury Plc for a potential merger, Bloomberg said. Walmart's $16 billion-acquisition for 77 percent stake in India's ecommerce portal Flipkart is now its largest etail deal.
