Walmart India has announced the opening of its 25th cash-and-carry store in the country in Indore, Madhya Pradesh, as the global retailer looks to increase its reach in India.
The store in Indore, which operates under the Best Price brand name, is the second in the city and fourth in Madhya Pradesh. According to Walmart India, the store will cater to the business needs of small businesses such as kiranas/resellers, offices and institutions, and the hotels, restaurants, and caterers (HORECA) of the region.
Krish Iyer, President & CEO, Walmart India said,
“We are at an exciting juncture of our journey in India as we complete a decade of operations in the country, delighting over one million members, largely kiranas, and contributing to the local and national economies.”
According to Walmart India, the setting up of each store creates 2,000 direct and indirect jobs, boosting MSME supplier ecosystem, supporting local farmers by sourcing from them directly, and providing training.
The company stated that the newly opened store will run on energy efficient solutions, renewable energy, and recycled water and manage waste, harvest water and replace single-use plastic with sustainable storage solutions. Walmart entered India in 2007 and opened its first store in Amritsar, Punjab in May 2009. In 2013, Walmart India became a wholly owned subsidiary of Walmart Inc.
It also operates three fulfillment centres in the country - at Mumbai, Lucknow, and Hyderabad. Walmart India’s business in India is membership-based. It counts more than one million members, majority of whom are small resellers and kiranas (mom and pop stores). The other business segments that make up its members include hotels, restaurants, offices and institutions.
In addition to the cash-and-carry business in India, Walmart also has its global sourcing centre and the technology centre, called Walmart Labs. It is also the majority owner in homegrown ecommerce biggie Flipkart.
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