The US retail giant Wal-Mart will open 50 cash and carry stores in India in the next four to five years.
“Pleased with the way its cash and carry business has grown in India, Wal-Mart India will continue to invest in and expand this established business,” the company said in a statement. Wal-Mart added that they would continue to invest in supply chain infrastructure and supplier development among other areas.
“Wal-Mart is committed to India and we are excited about our growth plans. 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,” Scott Price, President & CEO, Walmart Asia said in a statement.
He added that they will extend the e-commerce platform to their cash and carry members as well.
“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 programmes relating to all compliance areas, including licensing and permits, food safety, and responsible sourcing among others,” he said.
The company owns and operates 20 Best Price Modern Wholesale stores in eight states across India.
The first store was opened in Amritsar in May 2009.
The company proposes to invest in its supply chain infrastructure and supplier development but did not share details or plans to enter the multi-brand retail segment in India.
Wal-Mart, which had investigated violations of the US Foreign Corrupt Practices Act in its Indian arm, is ensuring they are not repeated.
The retail giant will continue to run its ‘easyday’ retail stores on its own.
(With agency input)