After the acquisition of e-commerce company Flipkart, veteran company Walmart has announced that it will open more than 50 stores in India in the next 4 to 5 years. The company said in its new plan about the Indian market, that it will continue to grow its wholesale cash and carry business and will open 50 new stores in the next 4-5 years.
Walmart is preparing to open 50 new stores
During this, Walmart India President and CEO Krish Aiyar said in a media meeting called on the Flipkart deal, that he currently has 21 stores and his plan is to open 50 stores in 4 to 5 years. At the same time he also said that he is considering opening 5 stores in the current financial year.
Will spread its business across the country
At present, WalMart is currently operating in 19 cities in 9 states of the country. Walmart India President and CEO Krish said that he is not going to reduce it. He will continue to focus in these areas but initially he will pay attention to Punjab, Haryana, Uttar Pradesh, Uttarakhand, Maharashtra, Andhra Pradesh and Telangana.
Operation of Flipkart as a separate company
Walmart Chief Executive Officer Doug McMillan said Flipkart would continue to operate as a separate company. Its board will also be different. Flipkart will provide Wal-Mart online access.
Walmart can not sell goods directly in India
Let us tell you that Walmart is unable to sell the goods directly to the customers due to India’s retail policy. Under the policy, foreign companies (except the wholesale cash and carry category) can not directly sell the goods to the customers. Companies like Flipkart and Amazon are working in e-commerce, where 100 percent foreign direct investment is allowed.