Walmart India to expand base, plans to add 70 stores in 5 years
Walmart India Private Limited, a wholly owned subsidiary of Walmart Stores Inc is planning to rapidly expand its base in India. It has identified 20 new locations to set up stores and has set a target of 70 stores by 2022, said a company official.
Walmart which recently opened its first fulfillment centre (FC) in Maharashtra to give a fillip to its existing stores in the country has finalized 20 strategic locations for future growth. The work on the new stores is expected to start early next year.
The company is expected to open 5-7 stores next year and add another 8-10 in the subsequent year. In the state of Maharashtra alone Walmart will be adding 15 Cash & Carry stores with an investment of Rs 900 crore under the brand of Best Price and a MoU with the Government of Maharashtra has already been signed regarding the same.
"We have signed nearly 20 sites as well and we are well on our way to be on meeting the commitment and targets which we have," Walmart India President and CEO Krish Iyer told news agency PTI.
“Walmart has plans to add 50 new stores by 2022 to take the total store count to 70. Out of these 50 stores, 5-7 new stores will become operational next year,” he added.
Walmart India owns and operates 21 Best Price Modern Wholesale stores in 9 States across India and has integrated omni-channel in all stores.
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