Walmart has acquired three Indian cash and carry stores previously owned by retail rival Carrefour, according to Business Standard.
The stores are located in Delhi, Jaipur and Agra, providing Walmart with ready-made infrastructure in its bid to increase its presence in the South Asian nation.
“Our planning team is diligently progressing on our growth strategy, as announced earlier, for opening an additional 50 cash and carry stores in the next four to five years in the country,” Walmart India’s corporate affairs vice-president, Rajneesh Kumar, told Business Standard.
Carrefour announced plans to exit the Indian market in July this year. Walmart initially denied its interest in purchasing the stores from Carrefour, with Kumar labelling the rumours “baseless and untrue.”
