Speaking at the sidelines of the World Retail Congress in Barcelona, Rajan Mittal, managing director of Bharti Enterprises, said: “We plan to open our first store as a small supermarket covering 2,000 square feet of space, under a new brand name. However, details are yet to be finalised.”
Speaking about the Bhart-Wal-Mart tie-up, Mittal said: “We are scheduled to open our first wholesale store by the end of the year. Eventually, we want to open 15 stores by 2015.” However, the new retail initiative will be an independent effort of Bharti Enterprises.
For this proposed retail venture, the company plans to invest $2.5 billion (Rs 10,000 crore).