Bharti Walmart Pvt. Ltd. on Thursday said it would open up to 12 new wholesale stores across the country by the end of 2011, company spokesperson said. The company — a 50:50 joint venture between Bharti Enterprises and U.S.-based retail giant Walmart Stores — is likely to invest around Rs.380 crore for its expansion plans. “One store requires an investment of about $7 million (around Rs.32 crore),” the spokesperson said. The company has so far invested over $40 million in the country on opening stores.
Bharti Walmart has now five stores and it opened a new one at Ludhiana in Punjab on Thursday, taking its investments in the State to over $30 million. It also has a store each in Rajasthan and Madhya Pradesh, while it has around one lakh total registered members.
In a statement, Bharti Walmart Chairman Rajan Bharti Mittal said the company would expand its presence in the South and Central India. It mainly caters to the needs of restaurant owners, hoteliers, caterers, fruit and vegetable re-sellers, kirana store owners, offices and institutions.
