Bharti Retail, a 100% subsidiary of Bharti Enterprises, is looking to enter a new zone by 2010 end, which could either be the western or southern part of the country.
Currently, its retail operations are concentrated only in northern India through its 70 Easyday neighbourhood retail stores and Easyday Market compact hypermarkets and a single cash-and-carry store through its joint venture with Wal-Mart of the US.
Bharti Retail has drawn up a 10-year roadmap till 2017, by when it plans to invest $2 billion across its formats, for which it will need to raise funds, but Rajan Bharti Mittal, vice-chairman & managing director, Bharti Enterprises, speaking on the sidelines of a Ficci-sponsored seminar, declined to comment on fundraising plans, saying it is too early to make any comments.
Bharti Retail will also expand in the north and by 2010 plans to be present in Rajasthan, Madhya Pradesh, Uttar Pradesh and the National Capital Region. Mittal said the company will increase the share of its private label from the present 16% to up to 40% over the next three years.
Currently, very few labels from Wal-Mart’s portfolio are retailed from the Easyday stores, including George apparels and the UK’s Great Value staples. By 2010 end, there are plans to have 200 stores, mostly under the Easyday formats, with around seven cash-and-carry stores.
Comments