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Walmart to Launch 30 Stores In Next 3 Years In India

23Jul By AnkitaNo Comments

News

Walmart to Launch 30 Stores In Next 3 Years In India

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 yea...

Despite E-comm Rise, Offline Stores Generating 91% Sale: Study

29Mar By AnkitaNo Comments

ANALYSIS

Despite E-comm Rise, Offline Stores Generating 91% Sale: Study

Despite rise in e-commerce business, brick and mortar stores still generate 91 per cent sales globally, a study has claimed. "Despite the rise of e-commerce, the physical stores still draw a significant shopping crowd. In fact, 91 per cent of all retail sales are still being generated in brick-and-mortar stores," the study released by Zebra Technology said today. Zebra Technology interviewed nearly 1,700 retail decision-makers across various retail segments, including speciality stores, department stores, apparel merchants, supermarkets, electronics, home improvement and drugstore chains, globally in 2016. "Around 28 per cent of the sample size were taken from Asia Pacific. Findings at Asia Pacific level are reflective of trends in India," Zebra Regional Sales Director for India a...

Starbucks Names China CEO, Sees 5,000 Stores There by 2021

19Oct By reutersNo Comments

News

Starbucks Names China CEO, Sees 5,000 Stores There by 2021

Starbucks Corp on Wednesday named its first chief executive officer for China and said it plans to more than double its store count in that country to 5,000 by 2021. The world's biggest coffee chain promoted Belinda Wong to the title of CEO of Starbucks China. Wong, who had been president of that operation, will continue to report to John Culver, group president of Starbucks Global Retail. Among other things, Wong will oversee the opening of Starbucks' first international Roastery and Reserve Tasting Room in Shanghai in 2017. Starbucks opened the first of its sprawling roasteries in Seattle in 2014 to showcase super-premium coffee beans and brewing methods. It was a move by the company to assert itself as a player in an upscale niche being defined by newer cafe chains such as Blue...

23Jun By AdityaNo Comments

CHINA

McDonald’s Going To Auction China, HK stores, Could Fetch Up to $3 Billion Deal

McDonald's has received more than half a dozen bids for its China and Hong Kong stores, including offers from Beijing Tourism Group, Sanpower and ChemChina, in an auction that could fetch up to $3 billion, people familiar with the matter said. Buyout firms including Bain Capital, TPG Capital and Carlyle Group are also participating in the auction with a view to teaming up with Chinese strategic bidders, the people said. "Given the difficulties Western chains have had recently with public perception, local players have become a serious competitive threat," said Elizabeth Friend, consumer foodservice analyst at Euromonitor International. Oak Brook, Illinois-based McDonald's has hired Morgan Stanley to run the sale of about 2,800 restaurants in China, Hong Kong and South Korea, Reute...