Sunil Mittal-led Bharti Group in a statement said that they plan to open their first retail store in the country by the middle of next year. This announcement confirms that the company’s launch plans have been delayed, as the stores were expected at the end of this year.
Justifying the delay, Sunil Mittal said, “We are hiring people, looking at real estate, and the backend supply chain is being organised. A lot of work is going on in that area.”
The company has partnered the world’s largest retailing company Wal-Mart to launch their retail operations in the Indian market, and aim to open 200 retail stores in the next seven years.
This delay in the launch might make it hard for the company to find the best sites to locate in, as Reliance has already started opening their branded stores throughout the country and will soon launch Reliance Hyper Marts as well. Aditya Birla Group is another company eyeing sites, aiming to be a retail major.