Walmart to open 50 stores in India in 5 yrs: Reports

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According to media reports, retail giant, Walmart, is aiming to open 50 new stores in the country over the next five years.

The company currently has 20 stores in Asia's third biggest economy, which is also one of the fastest growing retail markets in the world.

Walmart is mainly targeting smaller cities and not metros as it aims to strengthen its penetration in the Indian retail market. The company said that it plans to open all its 50 new stores in Tier I and Tier II cities.

"We are planning to open 50 new stores within next five years and all the new stores will come up in tier-I and -II cities," Walmart India president and chief executive Krish Iyer said on the sidelines of India Retail Forum, the PTI reported.

"We have launched the portal for our B2B customers at Lucknow and Hyderabad and the response has been very good. We are learning more about the members, what they need, the challenges etc. and are fine-tuning the operations accordingly. Overall, we are very enthused about the response and we propose to start rolling it out in other 18 stores very soon," Iyer said, the PTI added.

Story first published: Friday, September 19, 2014, 23:00 [IST]
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