Walmart’s international president and CEO, Kathryn McLay, stated that the company is exploring the optimal time for its Flipkart business to go public. Flipkart, Walmart’s India unit, has experienced significant growth, as McLay mentioned during the company’s earnings call.
“As the Flipkart business has grown, we have seen Myntra get to ebitda positive for the last two quarters. We have seen some growth in premiumisation and all of that is lifting the profile of Flipkart’s business. They are on track to the growth trajectory that we had them on, and we are looking and exploring when the right time to IPO that business will be,” McLay said.
Walmart’s president and CEO, Doug McMillon, also noted that same-day delivery orders in India increased by over 150% in the quarter. He added that Flipkart plans to enter the quick commerce segment in the near future.
Flipkart has reportedly intensified its efforts to achieve profitability, targeting a valuation of approximately $60 billion for its initial public offering (IPO). According to sources speaking to Bloomberg, the IPO is now planned for 2025-2026 instead of this year. Flipkart may consider listing in the US or another country, including India. The company had previously considered an IPO in 2022-2023.
