"We expect to open five stores in the current year and then pick up pace and eventually start opening 12-15 stores a year," Walmart India president and chief executive officer Krish Iyer told the mediapersons while talking about its deal with Flipkart.
Walmart is planning to spread across the country with major focus in Punjab, Haryana, Uttar Pradesh, Uttrakhand, Maharashtra, Andhra Pradesh and Telangana, said Iyer. Now, Walmart will strengthen its online business in India through Flipkart, in which it will 77 per cent stake for $16 billion. This investment will benefit India in providing quality, affordable goods to customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers and women entrepreneurs
Walmart India is a wholly-owned subsidiary of Walmart Stores Inc and offers close to 5,000 items through its cash-and-carry wholesale format. (RR)
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