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Wal Mart & Lotte Mart to debut in domestic market
07 Dec '06
1 min read
Since Indian economy is booming, the global retailers have found an attractive destination and are targeting the domestic market.
The global retail giant Wal-Mart is making its debut in the Indian market, by joining hands with Bharti Enterprises.
The Lotte Mart, the third largest South Korean discount store chain group is a part of Korea's fifth largest conglomerate, the Lotte Group.
It has given Wal-Mart a tough fight in Korea already, and are about to give stiff competition to Wal-Mart in India, as well.
With the absence regulations of 100 percent Foreign Direct Investment, Wal-Mart has already decided on the franchisee model. The Seoul-based Lotte is surveying for an Indian franchisee partner to set up its discount stores.
Lotte's retail operation which has been limited only to the Korean market, is now thinking of expansion into the overseas market. It will open stores in Russia, Vietnam and China in the next two years, sources inform.
The global retail giant Wal-Mart is making its debut in the Indian market, by joining hands with Bharti Enterprises.
The Lotte Mart, the third largest South Korean discount store chain group is a part of Korea's fifth largest conglomerate, the Lotte Group.
It has given Wal-Mart a tough fight in Korea already, and are about to give stiff competition to Wal-Mart in India, as well.
With the absence regulations of 100 percent Foreign Direct Investment, Wal-Mart has already decided on the franchisee model. The Seoul-based Lotte is surveying for an Indian franchisee partner to set up its discount stores.
Lotte's retail operation which has been limited only to the Korean market, is now thinking of expansion into the overseas market. It will open stores in Russia, Vietnam and China in the next two years, sources inform.
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