Continuing its endeavour in enabling small businesses prosper, to gain momentum through employment generation and also to harness growth of the nation, Walmart India Private Limited has planned to add 50 more cash and carry stores in next four to five years in India. Currently the company has 20 Best Price Modern wholesale cash-and-carry stores, operational in nine states across the country.
In a statement issued by the company, Rajneesh Kumar
, Vice President and Head Corporate Affairs, Walmart India says, “In addition to our existing 20 stores in India, we have plans to open 50 more cash-and-carry stores in the next four to five years. Our continuous focus on the B2B segment in the country has not only helped in building a conducive investment climate, but also helps to continue adding local jobs which will contribute towards the growth of the nation.”
The company will continue to invest on supply chain infrastructure and supplier development. “While growing our India business, we will continue to invest on supply chain infrastructure and supplier development, especially helping the growth of small and medium manufacturers in India,” Kumar adds.
On the growth of the company and entering B2C segment in India, Kumar says, “We are pleased with our growth in the country and would stay focussed in developing our B2B e-commerce business, which offers members, a virtual access to purchase a wide array of products, without being physically present at the stores. Members also have the option of doorstep delivery. At present, the US-based retail giant operates B2B e-commerce platform in nine cities including Lucknow, Hyderabad, Guntur, Vijayawada, Rajahmundry, Jalandhar, Ludhiana, Bathinda and Zirakpur.
Under B2B business model, Best Price Modern Wholesale stores sell products to businesses only, offering an assortment of around 5,000 items, including food and non-food items, available at competitive wholesale prices, allowing retailers and business owners to lower their cost of operations and maximise their revenues. A typical Best Price store is about 50,000 square feet and sells a wide range of fresh, frozen and chilled food, fruits and vegetables, dry groceries, personal and home care, hotel and restaurant supplies, clothing, office supplies and other general merchandise items.
Walmart India opened its first store at Amritsar in May 2009. The current Foreign Direct Investment
(FDI) guidelines allow 100 per cent FDI in B2B wholesale cash and carry business. Over 90-95 per cent of the products are sourced locally.