Bharti to spend Rs 800 crore annually on retail

                                                                                                                                                      NEW DELHI: Despite offers for fresh tie-ups, Sunil Mittal-led Bharti Group appears set to go solo in the retail business and expand the footprint of its EasyDay stores through fresh investments, estimated at Rs 700-800 crore annually. 

Bharti Enterprises and Walmart, which called off their six-year-old relationship last month, are in the final stages of ending their joint venture for wholesale cash-and-carry operations. The partners had set up 20 wholesale stores under the Best Price brand while Bharti handled the front-end operations through the Easy Day chain.

Although Bharti and Walmart were expected to be among the first movers to tap into the vast retail business in India, the US giant's eagerness to get a policy regime to its liking is said to be a reason behind the split. At the same time, a joint venture for the multi-brand retail business would have come at a cost as the partners would not have been able to tap into prosperous markets such as Punjab as the state does not permit foreign retailers to set up shop. Punjab has emerged as a hub of sorts for Bharti's retail foray.

 

vikash chandra mishra

pgdm 1st year

socrce times of india