THE WALMART BET
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Their diversification into retail seems to be the best bet so far for the next big leap by the Mittal Brothers. When Bharti Walmart launched its convenience retail (Easyday) store last year in Ludhiana, it was a low-key affair, given the ongoing backlash against organised retail players at that time. So last month when Bharti Enterprises launched Best Price Modern Wholesale – a cash and carry business under the Bharti Walmart joint venture, this time in Amritsar, the PR bugles blew loud, especially because the cash & carry business does not invite the same ire as retail stores selling directly to consumers. Bharti’s Best Price (like South Africa’s Metro in India) will not sell to end customers, but to resellers, which includes retailers, offices and institutions. With each Best Price store spread across 50,000 sq-feet, existing tie-ups with as many as 800 suppliers, the retail expertise of Walmart and Mittal’s knowledge of the Indian consumer, this one seems a winner so far. Asserts Zahir Abbas, Asso. Director, KSA Technopak, “India hardly has any player in the cash and carry segment, Metro being an exception. There is a great demand for organised B2B business and Bharti Walmart has been very careful in managing expectations.” Sources suggest that the venture has already garnered over 30,000 registrations from resellers, who are authorised to purchase goods from Best Price Modern Wholesale. But then, in India, the reseller market is highly unorganised. It is estimated that in Amritsar alone, as many as 50-70% businesses run without a valid business licence, and this may be a challenge for Bharti Walmart. Agrees Abbas, “They will have to come out with innovative means to include non-licence holders into their value chain. Ultimately, success will depend on how price competitive they are as compared to traditional wholesalers and distributors.”
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Source : IIPM Editorial, 2009
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