Walmart India, a wholly-owned subsidiary of Walmart Stores Inc, has announced its decision to increase its retail footprint from current 21 in India by opening 50 stores in next four to five years. This was disclosed by Walmart India President and CEO Krish Iyer.
The retailer is primarily focusing on Punjab, Haryana, Uttar Pradesh, Uttrakhand, Maharashtra, Andhra Pradesh and Telangana for its expansion plan.
The announcement by Iyer has come close on the heels of much- talked Walmart-Flipkart deal. Last year the US based retailer finalized 20 new locations for its retail expansion in the country.
Walmart has plans to increase its store count in India to 70 by 2022 from its current count of 21 Best Price wholesale stores in nine states in the country. At least 5-7 new Walmart stores are expected to be functional by this year.
The acquisition of 77 per cent stake in Indian e-retailer Flipkart has paved way for American retailer to sell directly to consumers as 100 per cent foreign direct investment (FDI) is allowed in e-commerce segment. The retailer has been deprived of this facility so far due to India’s retail policy.
However, Walmart Chief Executive Doug McMillon has made it clear that Flipkart would continue to operate as a separate board-managed company with co-founder Binny Bansal as the CEO.
Everything from fast-moving consumer goods to furniture to other retailers and institutions are available for sale at Walmart’s Best Price wholesale stores.
American retail mammoth Walmart, which is focusing to build ‘foundation for future growth not profitability’ in the country announced opening of its first fulfilment centre (FC) in Bhiwandi near Mumbai last year.
