Indian fashion has local, global retailers ‘mesmerised’: Walmart

NEW DELHI: On his latest visit to India earlier this month, Walmart CEO Doug McMillon expressed his bullishness not on the retailing behemoth’s global bread-andbutter business of grocery but on fashion. He was reportedly “mesmerised” the way fashion is performing at Flipkart and Myntra and wanted it to be the focused category in India for growth and profitability, according to people familiar with the matter. Walmart last year snapped up India’s largest e-commerce enterprise Flipkart Group for $16 billion. Analysts said the idea behind the buyout was to push Walmart’s expertise in every-day-low-price daily items in India like…

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