<
Bharti-Walmart Pvt Ltd, the joint venture between Bharti Enterprises and US-based Walmart Stores Inc for wholesale, business-to-business, cash-and-carry and back-end supply chain management operations, has earmarked over $105 million (over Rs 480 crore, excluding land and construction) for cash-and-carry operations in India for the next three years. The company plans to roll out 15 ‘Best Price Modern Wholesale’ cash-and-carry outlets, each occupying a space of 50,000-100,000 square feet, within three years.
A Walmart spokesperson told Business Standard that the company is looking at setting up facilities in Tier-II and Tier-III towns. According to him, after consolidating its position in existing territories, Walmart would expand in Haryana, Uttar Pradesh, Delhi and, later, in Madhya Pradesh. The company opened its maiden store at Amritsar in Punjab in May this year. Keeping in view the slowdown in the economy and the lukewarm response to organised retail business chains, the company has been treading cautiously. The next outlet is expected to be set up shortly at Banur near Chandigarh.
Source