Wal-Mart, the U.S.-based world’s largest retailer, which has tied up with the country’s telecom giant Bharti Enterprises, for its retail foray into India is ready to unveil details of its retail plans in April, 2008.
“We will unveil the plan for the roll out, the number of stores and the brand among other things at that time,” said Rajan Mittal, Joint Managing Director, Bharti Enterprises, while speaking to media persons in the capital. “We are close to finalising the brand and fleshing it out,” he added.
While, the first front store is likely to be launched in August this year, the first wholesale, cash and carry, store could be expected to be launched towards end of the year in December, 2008 in Chandigarh.
“We plan to open another two-three facilities in 2009,” said Raj Jain, president and CEO, Wal-Mart in India. Further, Wal-Mart Bharti combine is expected to set up around 15 wholesale stores by 2015. These stores are likely to provide employment to about 50,000 people.
While, the front-end business will be wholly owned by Bharti Retail (as FDI in multi-brand retail is yet not permitted in the country), wholesale, cash and carry stores will be equally owned by the partners (although, trade policy allows up to 100% FDI in wholesale cash and carry retail in India).
While, on fears of political and trade backlash, Wal-Mart is likely to drop its name tag for front-end stores, it may use the same for wholesale cash and carry retail in the country.
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1 response so far ↓
jay // Feb 22, 2008 at 4:23 pm
Many people who wish to work in this retail organisation including me would be interested in getting the information as to how to seek employment in the organisation. If anybody can give information about how to send their CV to the company, it would be appreciated. This site should also have a provision to cover requirement of job seekers in the retail industry.
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