US-based multinational retailing corporation Walmart is planning to open nearly 30 new wholesale cash-and-carry stores in the next three years in India, basically in Uttar Pradesh (UP) and Uttarakhand, mentioned by the top company official.
Walmart India, the wholly owned subsidiary of Walmart Inc, has inaugurated its second B2B fulfilment centre (FC) in Lucknow. It is set to accelerate the growth of its store network in the country.
Walmart India President and CEO Krish Iyer mentioned that “We would launch two stores this year, eight stores next year and 10 stores a year after that, Walmart has plans to add 50 stores in the next five to seven years.”
Besides, the company has a signed memorandum of understanding (MoU) with the government of UP to have 15 stores in the next few years in the state.
Mr Iyer mentioned, “We have already finalised three sites and six more are in the pipeline,”
Walmart will have its Best Price stores at:
-Kanpur
-Muradabad
-Varanasi
-Gorakhpur
-Saharanpur
-Lucknow
-Ghaziabad
The company, at present time, operates 21 cash-and-carry stores here under the brand name of ‘Best Price’ in nine states across the country.
“The FC will contribute to the state and local economies by creating over 1,500 direct and indirect local jobs, developing SME suppliers, and empowering local communities. Besides, with this initiative we are taking another definitive step towards building an impactful distribution ecosystem by working with our partners,” Iyer said.
This is the second centre, Walmart had opened its first FC in November last year in Mumbai. The Us Retail major Walmart is getting nearly half of its business through non-store or out-of-store sales channels, which include:
-B2B e-commerce
-Associates driven sales
-Call centres
while the rest half of its business still comes through in-store walk-ins, where the customers visit its stores and make purchases. Walmart is aiming to expand its business by opening its stores rapidly in India.