Walmart plans to open 50 new stores in 5 years

11 May '18
1 min read
Courtesy: Photo by Kai Pilger from Pexels
Courtesy: Photo by Kai Pilger from Pexels

Walmart is now looking forward to expanding its business in various parts of India with the opening of 50 new stores in next 4-5 years. The announcement has come a day after the US retailer's investment in Flipkart, India's largest online retailer. At present, Walmart is operating in nine states and 19 cities, its cash-and-carry business.  

"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)

 

Fibre2Fashion News Desk – India

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