Walmart - Plans for India
The big boy is waiting for the FDI in retail to be relaxed further. However,its already started chalking out its plans.
Business Standard reports, " Wal-Mart, the world’s largest retailer, has chalked out the look and size of the stores it will open in India as it awaits laws allowing foreign direct investment in the country’s retail sector.
Speaking about its India strategy to Reuters, Wal-Mart Asia’s Chief Executive Officer Joe Hatfield said the company was interested in cities, both large and small. His strategy will be to make a big splash early on, opening 12-18 stores in the first 18 months, to show consumers that Wal-Mart was committed to India.The retailer has already applied for a liaison office in Bangalore to study the market, and recently hired a head of Asian strategy who will oversee expansion in India, among other things. Wal-Mart Vice-Chairman Mike Duke met Indian officials earlier in March, marking the retailer’s second round of high-level talks in less than a year.
Wal-Mart believes India, like China before it, will embrace Western retailers. The key is to show an understanding of local tastes, whether that means stocking popular spices, the right baked goods, or just the top-selling brand of soap."
The big boy is waiting for the FDI in retail to be relaxed further. However,its already started chalking out its plans.
Business Standard reports, " Wal-Mart, the world’s largest retailer, has chalked out the look and size of the stores it will open in India as it awaits laws allowing foreign direct investment in the country’s retail sector.
Speaking about its India strategy to Reuters, Wal-Mart Asia’s Chief Executive Officer Joe Hatfield said the company was interested in cities, both large and small. His strategy will be to make a big splash early on, opening 12-18 stores in the first 18 months, to show consumers that Wal-Mart was committed to India.The retailer has already applied for a liaison office in Bangalore to study the market, and recently hired a head of Asian strategy who will oversee expansion in India, among other things. Wal-Mart Vice-Chairman Mike Duke met Indian officials earlier in March, marking the retailer’s second round of high-level talks in less than a year.
Wal-Mart believes India, like China before it, will embrace Western retailers. The key is to show an understanding of local tastes, whether that means stocking popular spices, the right baked goods, or just the top-selling brand of soap."
posted by Cogito at
Tuesday, March 28, 2006
3 Comments:
Car, cosmetic, 2 wheeler, mobile market are become old and now upcoming is retail biz. India giants Reliance, ITC are all targetting now. becoz of middle class families(like me)
By
ILA (a) இளா, at 2:48 PM
India has a huge potential in organized retail. no wonder every major is keen on our mkt.
By
Cogito, at 7:17 PM
The organized retail here in India is only 3% whereas the countries such as in America, where Wal-Mart is the leading force is, 70-80%. Therefore the un matched potential for these heawyweights are a drool for their mouths.Happy Shopping people.
By
Anonymous, at 9:56 PM
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