Bentonville, AR-based Walmart has acquired a 77% stake in Bangalore-based e-commerce company Flipkart for $16 billion. Walmart and Flipkart will remain separate brands with the goal of transitioning Flipkart to a publicly-listed, majority-owned subsidiary in the future. "India is one of the most attractive retail markets in the world, given...
India Becoming R&D Hub for Multinationals
Multinational from the Americas, Europe, and APAC have set up research hubs to work in the areas of R&D, Business Process Management and IT. More than 1,000 multinational companies have established engineering and research and development centers — known as global in-house centers or GICs — in India. Among these...
Walmart Ups the Ante in India
Arkansas-headquartered Walmart is planning a threefold increase in the pace of opening stores by 2020 in India. It plans to open 50 new stores by 2022 to take the total store count to 70. "We are opening five to seven stores next year. Eventually, we want to open 15 a...
Walmart to Set Up 50 New Outlets in India
Walmart will open 50 new wholesale stores across India over the next three to four years which will be located in the states of Telangana, Andhra Pradesh, Maharashtra, Punjab, Uttar Pradesh and Haryana. President and CEO, Walmart Canada and Asia, Dirk Van den Berghe, said Walmart was committed to India,...
Wal-Mart India Grew 7 Percent on Annualized Basis
Walmart, the world's largest retailer, posted a 7% rise in revenue in India. With 21 outlets, the company now sells goods only to traders, institutions, and small- to medium-sized grocery stores. Krish Iyer, CEO of Wal-Mart India said, "We are excited with this continuous progress and our contribution to the...
India among top 15 emerging retail markets
A.T. Kearney's Global Retail Development Index for 2013 views India favorably and realistically. It points to India's large, young, increasingly brand- and fashion-conscious population. Retail growth of 14 to 15 percent per year is expected through 2015. "Modern retail" remains limited (7 percent in 2012), but it is expected to...