Bharti Wal-Mart first store kicks offMay 31st, 2009 | By editor | Category: Business, In News
NEW DELHI: Bharti Wal-Mart Private Limited, the joint venture between Bharti Enterprises and U.S.-based retail giant Wal-Mart Stores for cash-and-carry and back-end supply chain management operations in India, on Saturday opened its first store in Amritsar (Punjab). The company also announced plans to set up 15 more outlets across India and invest $100 million in 2 to 4 years.
Bharti Enterprises Vice-Chairman and Managing Director Rajan Mittal said: “We are bringing the latest and most modern advances in retailing to service the engine of India’s retail sector — the wholesalers and business owners.
The focus has been on being innovative, adding value and helping our members prosper. Initially, we will open stores in Punjab, Haryana, Delhi, Madhya Pradesh and Uttar Pradesh, and later spread to other parts of the country.”
According to Bharti Wal-Mart Pvt. Ltd. Managing Director and CEO Raj Jain: “We will generate significant job opportunities, both direct and indirect, by creating local beneficiaries along the supply chain and we have been working closely with local suppliers to develop a sustainable and efficient supply chain.”
Branded as “Best Price Modern Wholesale”, the store was a one-stop shop that meets the day-to-day needs of restaurant owners, hoteliers, caterers, fruit and vegetable resellers, kiranas (neighbourhood retailers), offices and institutions. The store would offer an assortment of around 6,000 items, including food and non-food items, which were available at competitive wholesale prices, Mr. Jain said.
“Over 90 per cent of these goods and services are being sourced locally, thereby helping keep costs to a minimum, adding to the growth of the local economy and creating job opportunities. Foodgrains and cereals are two to five per cent cheaper, FMCG products are cheaper by 10 per cent while the apparels and general merchandise are less up to 25 per cent,” he added.