Walmart owned Flipkart is all set to venture into the food retail business in India with its newly registered brand, ‘FarmerMart’. The new branch has an authorized equity capital of Rs 1,845 crore.
The company has planned to buy goods from local markets. Initially, they will be sold online, however, there are chances that the company will open physical retail stores as well.
FarmerMart was registered on October 4 and will sell locally-produced and packaged food products. The company is likely to adopt an omnichannel model for sales under FarmerMart.