Walmart gearing to expand its footprint
Walmart, which had stalled its expansion due to restructuring after it broke up its tie-up with Bharti last year, is again gearing up to expand its footprint and plans to roll out 50 stores in the next five years across the country.
The company, which has 20 stores in the country, is planning to open 50 new stores in Tier I and Tier II cities and will also take the e-tailing route to make it convenient for the customers who don’t have time to visit their stores. All the new stores will come up in Tier I and Tier II cities and not in metros. The company had frozen expansion for a brief period but now we are again expanding across the country. Our next store maybe opened in the next 18 months said Krish Iyer, president and chief executive officer, Walmart.
Iyer said that the company is in talks for opening stores at several locations but declined to divulge their names due to competitive reasons. The world’s largest retailer last year ended its joint venture with Bharti Enterprises amid continued difficulties navigating regulations on foreign investment in India.
Source: Financial Chronicle
