INDIA: Wal-Mart outlines India expansion plans
Wal-Mart has announced the opening of 50 cash-and-carry stores in India
Wal-Mart has revealed growth plans for its wholesale store division in India including the opening of additional stores and an extension of its B2B e-commerce platform.
The world's largest retailer said it is pleased with the way its cash-and-carry business has grown in the country and will therefore "continue to invest in and expand this established business".
In October, Wal-Mart took control of the Best Price Modern Wholesale chain in India after the end of its venture with local conglomerate Bharti Enterprises. Wal-Mart had said it would keep the business but had put its expansion plans on hold after bribery allegations rocked its business in India last year.
However, the retailer plans to open 50 Cash and Carry stores over the next four to five years and continue to invest in its supply chain infrastructure and supplier development.
"Wal-Mart is committed to India and we are excited about our growth plans," said Scott Price, president and CEO of Walmart Asia. "We will continue to focus on the Cash and Carry format as we are very happy with the way it has shaped up in the last few years.
"Along with our growth, we are taking a number of important steps to strengthen compliance so that we do the right thing everyday. We are evaluating and reinforcing procedures and programs relating to all compliance areas, including licensing and permits, food safety, and responsible sourcing among others."
The news follows reports at the end of last week that the Indian party tipped to lead the country's next government, Bharatiya Janata Party (BJP), plans to ban foreign supermarkets from entering its retail sector.
In email correspondence to just-food today (14 April), when asked what the news would mean for Wal-Mart India's expansion plans, a spokesperson said: "we have no further comment on the terms of the transaction beyond the information we have already disclosed".
Wal-Mart is the largest retailer in the world. The company has retail stores worldwide, with 10,773 stores recorded across 27 countries at the end of January 2013. Despite the dominant position the co...
Wal-Mart de México is by far the leading and most influential chained grocery retailer in Mexico. Its strategy of offering low prices to attract consumers has been replicated by all other chained groc...
The tough financial situation in 2012-2013 forced Wal-Mart to be more cautious about expansion. The company plans to upgrade outlets and close underperforming stores in the forecast period. For exampl...
It is expected that Wal-Mart Brasil will continue to focus on the expansion of its stores, especially in areas such as the northeast region where disposable incomes are growing above the average in th...
- Deal or no deal: Frozen sale makes sense for Kerry
- On the money: How Greencore is outperforming
- Comment: Mondelez digital strategy suffers blow
- JBS sees big opportunity from Primo Smallgoods
- Regional start-ups aim to ride China's online boom
- Kerry puts frozen food unit on block - reports
- Coca-Cola eyes long-term rewards with dairy push
- Post issues warning over US cereal sector sales
- UPDATE: Greencore eyes US$1bn US business
- Abraaj outbids Kellogg with fresh Bisco Misr offer