INDIA: Wal-Mart "registers new company"
Global retail giant Wal-Mart is understood to have registered a new company in India as it prepares to enter the country's multi-brand retail market.
According to India's Economic Times, the retailer has registered a new company called Wal-Mart India Private Ltd in the country. Data with the Ministry of Corporate Affairs shows the new entity was registered on 15 January.
Wal-Mart parted ways with Bharti Enterprises in October last year to operate retail stores independently in India, ending speculation over the future of their six-year partnership.
The retailer bought out Bharti from their Bharti Walmart venture, taking on their Best Price Modern Wholesale cash-and-carry business. Bharti, meanwhile, kept its Easyday retail stores across all formats, for which Wal-Mart has provided supply chain and management support.
As a result, in December, the retail giant admitted that some jobs would be lost from its India business as it plotted its growth in the market alone.
It was thought Wal-Mart had put plans for more stores in India on hold as it shored up how to apply for new outlets in the wake of bribery allegations last year.
The allegations hit the Bharti Walmart venture last year and Wal-Mart wants to ensure applications for new store locations meet local regulations.
Last month, Wal-Mart International senior vice president, Krish Iyer, was promoted to the role of chief executive for the US retail giant's India operations.
He took up the role from today, replacing interim CEO Ramnik Narsey, who is taking the role of senior vice president for Wal-Mart International.
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
Wal-Mart Stores, Inc. (WMT) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by...
In 2008, the US-based multinational company Wal-Mart Stores acquired the Chilean hypermarket, supermarket and retail company D&S, which already owned more than 250 stores across the country. Every yea...
Wal-Mart de México SAB de CV is the leading and most influential chained grocery retailer in Mexico. The company’s strategy is based on offering a wide range of products at affordable prices. Conseque...
- 2014: Year in review - Sourcing winners and losers
- COMMENT: The decline of the buying office
- 2014: Year in review - Brand winners and losers
- 2014: Year in review - Retail winners and losers
- Bangladesh: Raising the bar on apparel exports?
- Report urges overhaul of Cambodia factory safety
- Bangladesh knitting worker killed by faulty lift
- Bangladesh factory improvements “will take years”
- North Face debuts locally-grown "backyard" hoodie
- Tommy Hilfiger launches solar-powered jacket