Bharti WalMart to open 10 new cash-and-carry stores in 2011
Bharti Walmart plans to open around 10 new cash-and-carry retail stores during 2011, said Raj Jain, managing director and CEO, Bharti Walmart, on Tuesday.business Updated: May 24, 2011 21:55 IST
Bharti Walmart plans to open around 10 new cash-and-carry retail stores during 2011, said Raj Jain, managing director and CEO, Bharti Walmart, on Tuesday.
Bharti Walmart is a joint venture between Bharti Enterprises and US-based retail giant Walmart that operates wholesale cash-and-carry stores in India under the Best Price Modern Wholesale brand.
“The market in India is ready for modern retail and modern wholesale. We have done a lot of work on setting up supply chain for our operations in India and expanding more aggressively in the country,” Jain said.
The immediate focus would be scale up operation before aiming for profitability, he said. “In discount retail, you need to build massive scale before becoming profitable. It can take several years. Our focus in India right now is to build scale. Profitability will not come in a short term, but in the medium-to-long term.”
Bharti Walmart launched its first Best Price Modern Wholesale cash-and-carry store in Amritsar in May 2009. A cash-and-carry store is spread across 50,000 and 100,000 square feet. At present, Best Price Modern Wholesale stores are located at Amritsar, Zirakpur, Jalandhar, Kota, Bhopal and Ludhiana.