Walmart to focus on new geographies for India expansion
US retailer Walmart aims to continue to expand in India in its next 10 years in the country and will seek out new geographies.
Walmart India’s president and CEO Krish Iyer told ET Retail that the business’ US heads continue to see India as an important market after making “significant investments” in the country.
“The next 10 years will be a period of exponential growth,” Iyer told ET Retail in an interview. “And if I look at the opportunities India presents I think it will still remain important to stay focus and not start thinking about going national.”
Walmart, which retails in India through the wholesale channel, currently has 23 stores in the country and operates in nine states. Iyer said that the business does plan to launch in more states moving forward to seek out new geographies. However, he said that a pan-India presence is not part of the business’ expansion strategy at present as the states it is already present in offer ample growth opportunities.
The business does intend to greatly augment its India store total and double it in the next three to four years. New stores will follow the business’ established model of 50,000-square-foot spaces on four acre land plots located in Tier 2, 3, and 4 towns.
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