INDIA BUSINESS WORLD - JULY - AUGUST - 2007
The Month that was ...
BHARTI WAL-MART IN JOINT VENTURE
Bharti Enterprises finally signed two separate agreements with Wal-Mart, the world's biggest retailer. One, to set up a 50:50 joint venture for a kirana store-friendly wholesale (cash and carry) business with Sunil Mittal as the chairman of the six-member board and Raj Jain as the likely CEO.
The second agreement relates to Wal-Mart extending technical expertise for various systems and processes to Bharti's front-end retail venture, for a fee. The JV's first cash and carry setup will sell a range of products to various B2B consumers, including retailers, hotels and restaurants or any organisation that has a sales tax registration. The product range will include groceries, consumer appliances, fruit and vegetables.
|
