Magazines Archives - 2007 May

Bharti, Wal-Mart to seal JV deal
Story 7

AMID the political controversies in India over the entry of foreign retailers, Bharti Enterprises and Wal-Mart Stores Inc are in the final stages of closing their joint-venture deal. Bharti Enterprises will invest more than US$2 billion over the next few years, promising benefits to consumers and producers as well as potential investors across several sectors in the Indian economy.

Despite the government’s concerns and tight regulations over foreign direct investments, Bharti’s group chairman, Sunil Mittal, confirms the joint venture, stating that the two companies are looking into possible sites for the first outlet to be opened early next year.

Bharti will run the front-end of the JV operation, which has yet to be named, Mittal said. With plans for approximately 10 million sqf of retail space, the Bharti-Wal-Mart venture will include hypermarkets and supermarkets its portfolio, while franchising smaller store formats to existing local vendors.


2007 May Stories:

Pushing for contactless payment among Singapore retailers

CRC’s Zen Department Store set to become must-visit shopping destination

VF Corporation acquires The North Face

H&M debuts in China with Shanghai store

Tesco Malaysia in RM650-million expansion

Olympics spurring retail expansion in Beijing

Chinese consumer market set to be world’s second

Bharti, Wal-Mart to seal JV deal

Singapore’s GEMS service programme returns

Visa EMV chip cards achieve new milestone in the Asia-Pacific

Coles Group to spend A$133m on IT

Carrefour deploying PSC’s POS scanners in its stores

Australians still hampered by payment systems despite rise in online shopping

US consumers give e-commerce a thumbs-up

Order bento meals online

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