Bharti Walmart is to develop its cash and carry format in an effort to target retail markets in emerging economies.
The joint venture between one of India’s leading business groups Bharti Enterprises and global retail giant Walmart has announced plans to open 15 cash and carry outlets in markets in both Asia and the Americas.
“Our new store development is focused on high-growth markets such as Mexico, China and Brazil,” a company spokesperson told the Hindustan Times. “We continue to pursue the middle-income customer in these markets. We have recently established our presence in high growth markets such as India and Africa with our joint ventures," the spokesperson said.
"In India we currently have 17 Best Price Modern Wholesale stores and are looking further to expand our presence in the country. Should the government guidelines be revised to permit investment in multi-brand front-end retail sector, we would evaluate the opportunities at that time and take an appropriate decision,” he added.
