Home International Bharti may reveal Bharti-Wal-Mart retail venture today

Bharti may reveal Bharti-Wal-Mart retail venture today

New Delhi: Bharti Enterprises would be revealing details on their Bharti-Wal-Mart retail venture in the Capital today. Rajan Bharti Mittal, joint managing director of Bharti Enterprises, is scheduled to announce Bharti Retail’s “strategic roadmap”. But, from all available indications, no Wal-Mart official is likely to be present on the occasion. This announcement would come at a time when UPA chairperson Sonia Gandhi has urged the prime minister to assess the likely impact of allowing foreign direct investment in multi-brand retail and the Bharti-Wal-Mart venture. Sources told DNA that Michael Duke, Wal-Mart’s CEO, is keeping his date with India next week despite the hype surrounding the tie-up with Bharti. But Monday’s announcement will be solely from Bharti’s side. The two companies are likely to reveal that their venture will only be for the cash-and-carry model. They are also expected to make it clear that this venture is not going to become a backdoor entry for Wal-Mart. Market sources claim that Bharti already has a little less than 100 employees in its retail team. This team is headed by Vinod Swahney. The company also seems to have acquired lands in cities like Jasola, Ludhiana, and west Delhi for large formats with areas of over 1 lakh sq ft. Bharti Wal-Mart would be taking on Reliance which is rapidly expanding their retail presence in India through their Reliance Fresh venture. Aditya Birla Retail is also in the running. They recently acquired India-based retail chain Trinethra. They are likely to reveal their plans in June this year.

 

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