Bharti Retail will issue one equity share of Rs 2 each for every share of Rs 2 held in Future Retail
Bharti Retail has started offering facility to pay shopping bills through mobile phones
Bharti Retail exuded confidence that it is 'on course' to become a billion dollar company by 2015, and will open 40 more stores in the next three months notwithstanding the economic slowdown.
Riding high on the retail boom in India, Bharti Retail on Wednesday opened its first store in Ludhiana.Meanwhile, the Bharti-WalMart joint venture is likely to kick off its cash and carry (wholesale) business in the third quarter of this year.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
Our focus is on the best price, the best experience and the best quality.
Bharti Enterprises vice chairman and managing director Rajan Mittal said most of these will be Easyday stores.
Bharti Retail, a subsidiary of Bharti Enterprises, on Monday said it will increase the head count to 60,000 by 2015 from 2,000 now as it has set a target to become a $1-billion company by then.
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
Bharti Retail, a subsidiary of the Delhi-based Mittal group, has tied up with Wal-Mart
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart, the world's largest retailer, is also expected to open cash and carry stores in the South in the next 12-24 months.
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
While elaborating on its international business, including the cash-and-carry or wholesale stores in a joint venture (JV) with the Bharti group, Walmart has pointed out that the list does not include the 'franchised' retail stores.
Wal-Mart and other retailers lobbied for years to gain access to India's market, lured by the promise of a middle class that will one day rival China's.
M P Achuthan, Rajya Sabha member from Kerala, who blew the whistle on the company flouting FDI norms in India, has submitted a petition to the Prime Minister's Office, revealing details of how Walmart violated norms while investing $100 million in Cedar Support Services, a company that was earlier known as Bharti Retail Holdings. He speaks to Manu A B about the MNC
The world's largest retail chain, the $446-billion Walmart, is likely to be the first international player to take off in India with its supermarket format. The Bentonville-based US giant is, in fact, ready with a network of 195 stores across India if it decides to extend its back-end and cash-and-carry partnership with Bharti Enterprises to front-end retail.
Bharti Airtel subscribers would soon be able to withdraw cash by using their mobile phone, without going to bank branches or any ATM. The company, which recently launched Airtel Money (AM) to allow users to transfer money, as well as pay bills, is in discussion with various banks to launch the cash withdrawal service.
America's Walmart is likely to be the first overseas chain to enter the $590-billion Indian retail sector, as the the world's biggest retail giant is extending its parternship with Sunil Mittal's Bharti Enterprises.
Bharti-Walmart Pvt Ltd, the joint venture between Bharti Enterprises and global retail major Walmart Stores, on Wednesday opened its first agricultural cooperative centre at Sirhind in Punjab.
The chain readies to expand its footprint as Bharti focuses on its retail venture.
Bharti Enterprises and US-based Wal-Mart Stores entered into a joint venture in August 2007 and started cash-and-carry stores named 'BestPrice Modern Wholesale' last year.
We are also trying to bring in modern processes and technologies in the area of supply chain, logistics and cold chain that should ultimately benefit the entire retail ecosystem through better quality, and more choice at better prices, says Bharti.
Sales grew only 5-10% last year on weak consumer sentiments
Big retail is fine tuning its strategy to win over critics and corporate social responsibility drives are providing it with the means.ITC and Reliance have already launched projects to recruit street hawkers, the main adversaries of big retail. And now Bharti Mittal has opened a retail innings of its chain, Easy Day, in Ludhiana with something similar.
Portal to be launched in three months, says Future Group's Kishore Biyani
Coca-Cola and PepsiCo have already announced plans to enter the milk-based beverages segment in the country. Reliance Retail, which has entered the diary segment with Dairy Pure, its milk brand, may also expand into niche categories. Industry observers believe that Bharti Retail may also be working its way towards marking an entry into the dairy space.
Bharti Retail, owned by Sunil Mittal's Bharti Enterprises, on Wednesday started retail operations in the country with neighbourhood store format, Easy Day, from Ludhiana in Punjab. Bharti has set up three stores in Ludhiana.Bharti has announced plans to invest Rs 10,000 crore (Rs 100 billion) to set up stores across the country by 2012. The company said that it is looking at a retail space of 10 million square feet and employ 60,000 people.
Bharti Enterprises, which had last year announced a $2.5-billion investment for its retail venture, is expected to announce its final plans, including that of opening of the first store, within the next two months.
Global retail giant Wal-Mart is in talks with several domestic textile firms for its Indian operation, which is expected to begin next year
Wal-Mart's experience and sourcing skills will help Bharti roll out stores fast and sell at competitive prices.
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
The company received a fresh equity infusion in 2012-13.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Sources estimated the number of employees asked to leave because of downsizing stands at about 100.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Bharti Retail on Friday announced appointments of former head of Walmart India Raj Jain as its CEO and Pankaj Madan, another senior executive of erstwhile joint venture Bharti Walmart, as Chief Financial Officer.
The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
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