Monday, June 11, 2007

Wal-Mart Enters India in Early 2008

NEW DELHI - "The Bharti-Wal-Mart retail partnership is looking at opening its first clutch of retail stores - around half a dozen - sometime early next year.

Bharti Enterprises group chairman and CEO Sunil Mittal today said: “We will start rolling out stores from next year and may put up several hundred stores over four to five years”.

Bharti has announced that it will invest $2.5 billion in its retail venture, under which it will lead and manage the front end operations, while Wal-Mart will power the logistics and backend operations. Around $100 million has already been committed by Bharti."

more here.

Read a previous post here about Wal-Mart's impressive overseas sales growth, despite staganating sales in the U.S.


Post a Comment

<< Home