The agreement establishes a platform for Staples to enter the $10 billion office products market in India and allows Pantaloon Retail to benefit from the industry expertise and sourcing network of the world's largest office products company.
"The office products business in India presents tremendous opportunities for growth. Through our partnership with Staples, the industry leader, we can become the office products provider of choice for businesses throughout India," Kishore Biyani, MD and CEO, Pantaloon Retail said in a statement to the Bombay Stock Exchange.
"As Staples expands globally, India represents a great opportunity for the company," Staples chairman and chief executive officer Ron Sargent said.
Staples Future Office would serve businesses of all sizes through delivery as well as cash-and-carry locations, offering a wide range of office products from core office supplies, printers as well as computers.
Future Office, which recently acquired B-to-B online office products company Officedge, would expand its delivery operations to include Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore and Chandigarh.
