Flipkart back to the company for approximately US$1.1 billion, and re-launch its own Indian operations. The company stated that "there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market." Softbank Group also sold its entire 20% stake to Walmart, without disclosing terms of the sale. The acquisition was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company. On 13 November 2018, Flipkart CEO Binny Bansal resigned, after facing an allegation of "serious personal misconduct". Walmart stated that "while the investigation did not
Kaleidoscope (retailer) Kaleidoscope (retailer) Kaleidoscope is a catalogue and online based retailer specialising in women’s fashion and accessories, but also stocking homewear and electricals. Kaleidoscope is owned by Freemans Grattan Holdings (previously named Otto UK), which is in turn owned by Otto GmbH – one of the largest retailers in the world with over 50,000 employees at 123 companies across more than 20 countries. Freemans Grattan Holdings largely operates in the UK through brands including Freemans, Grattan, Kaleidoscope, Oli, Look Again, Bon Prix and Witt. The company also owns Hermes (Previously named Parcelnet) – A European home delivery courier company Kaleidoscope was