Latest news with #Bernstein41stAnnualStrategicDecisionsConference2025
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Business Standard
29-05-2025
- Business
- Business Standard
Walmart bets on Flipkart to tap India's $1-trillion e-commerce market
Walmart Inc. is betting on India, Mexico, and China to drive the next phase of its international expansion, with a particular focus on scaling e-commerce and omnichannel capabilities in these fast-growing markets. These regions are strategic priorities within its global portfolio, according to Kathryn McLay, President and Chief Executive of Walmart International. The division oversees the Bentonville, Arkansas-based retailer's operations outside the US, including its global online platforms. McLay noted that India, home to 1.4 billion people, represents a major e-commerce opportunity. The country's internet economy is expected to reach $1 trillion by 2030, primarily fuelled by e-commerce. Yet online penetration remains low—just 9 per cent—highlighting significant headroom for growth. To tap into this opportunity, Walmart is continuing to invest in Flipkart, expanding both its core offerings and newer retail formats. 'We see huge opportunities in that market, and we have been growing the Flipkart business,' McLay said during a fireside chat with Bernstein analyst Zhihan Ma at the Bernstein 41st Annual Strategic Decisions Conference 2025 in the US on Wednesday. Walmart entered India in February 2018 through its $16-billion acquisition of Flipkart, which operates as a pure-play online third-party (3P) marketplace. Initially focused on bringing branded items to tier-II and tier-III cities—where consumers previously had to travel to tier-I cities to access products like Levi's—Flipkart concentrated on mobile phones, electronics, and apparel. These core categories have since achieved profitability. As the business has matured, Flipkart has broadened its assortment to meet evolving customer needs. In recent years, quick commerce—defined by delivery windows of 15 minutes or less—has become a dominant trend in India. To address this, Flipkart launched its 'Minutes' business to meet accelerated delivery expectations. The company has established 250 fulfilment centres to support this model, a major shift from its earlier one-to-two-day delivery promise. Today, some Flipkart orders arrive in as little as three minutes. 'It was a one-to-two-day promise. Now we have a fifteen-minute promise—and sometimes we can deliver in as short as three minutes,' said McLay. 'Those capabilities are insane for me. They're kinda mind-blowing.' Quick commerce currently accounts for about 20 per cent of India's e-commerce market and is growing at 50 per cent annually. While Flipkart's core business moves steadily towards profitability, McLay said the company is also strategically investing in quick commerce as part of its broader growth roadmap. Walmart views this expansion as part of a longer-term trajectory rather than a linear path to profitability, supported by proof points from other international markets. Flipkart is also applying global best practices across operations. When quick commerce began gaining traction, Flipkart CEO Kalyan Krishnamurthy looked to Walmart's China operations—specifically Sam's Club's cloud-based fulfilment model, which delivers 1,000 SKUs in under an hour. Flipkart sent a team to study this system and adapted it to Indian needs, aiming to deliver 6,000 SKUs in under 15 minutes. 'When we saw the rise in quick commerce, our CEO of Flipkart asked me where he could learn about speed within the Walmart enterprise. I pointed him to China,' McLay recalled. 'So he sent a team over to the dark-fulfilment centre, and they learned from that. Then they brought it back to India and said: 'A thousand items in under an hour? We want to do 6,000 items in under fifteen minutes.'' These adaptations are now being shared with other markets, including China, demonstrating how knowledge flows in both directions within Walmart's global network. McLay also highlighted Flipkart's approach to profitability. Unlike Walmart's China operations, which are primarily first-party and lack a digital advertising component, Flipkart includes digital advertising as both a revenue stream and a contributor to its profitability profile. The platform is continually adapting to meet evolving customer expectations in India's dynamic market. One of Flipkart's standout verticals is Myntra—its dedicated platform for beauty, apparel, and accessories. Myntra has built strong capabilities in customisation and hyper-personalisation, and is considered a leader in generative AI within Walmart International. For instance, users can input prompts like, 'I'm going to a wedding in Kerala in the summer with mostly twenty-something guests, and it will be semi-formal,' and the platform generates four outfit recommendations tailored to the query. 'One of the hidden gems, I think, in the Flipkart business is Myntra,' said McLay. Flipkart's broader strategy remains focused on strengthening its core e-commerce operations, expanding its quick-commerce offering, and enhancing personalisation through Myntra. Walmart has reiterated that while profitability is a goal, it will not come at the cost of market share or long-term growth.
Yahoo
07-05-2025
- Business
- Yahoo
Citizens Financial Group to Participate in the Bernstein 41st Annual Strategic Decisions Conference 2025
PROVIDENCE, R.I., May 07, 2025--(BUSINESS WIRE)--Citizens Financial Group, Inc. (NYSE: CFG) announced today that Chairman and Chief Executive Officer Bruce Van Saun will participate in the Bernstein 41st Annual Strategic Decisions Conference 2025 to be held on Friday, May 30, 2025 at 9:00 am ET. The live webcast will be available at under Events & Presentations. About Citizens Financial Group, Inc. Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $220.1 billion in assets as of March 31, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,100 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at or visit us on X, LinkedIn or Facebook. CFG-IR View source version on Contacts Media: Peter Lucht - 781.655.2289 Investors: Kristin Silberberg - 203.900.6854
