The Hindu Business Line : Bharti Retail to begin operations in March

New Delhi, Dec. 10 Bharti Retail Ltd, a subsidiary of Bharti Enterprises, will kick off its operations in March next by setting up its first small format retail store in North India, while the cash and carry business, in association with Wal-Mart, will commence in the third quarter of next year.

“We will open our first store, a small format one, mostly convenience store, by March next year. However, we will only go to States that are friendly,” said Mr Rajan Mittal, Managing Director, Bharti Enterprises, on the sidelines of a Federation of Indian Chambers of Commerce and Industry (FICCI) event here on Monday.

He said the brand name for the retail venture has already been finalised.

The company has already started hiring professionals to manage different formats of the trade, and targets to employ around 16,000 people by 2012. “We are picking up people from across industries and have also hired a person from outside India to manage one of the formats,” he said.

On the retail side, Bharti plans to open stores across three formats — small format convenience stores, supermarkets and hypermarkets.

Poised for growth

According to a FICCI-Ernst&Young study on the retail sector released today, organised retail is set to grow to $30 billion from $14 billion in the next three years.

The report also says that the sector, which now accounts for a meagre five per cent of the total market worth $280 billion, is projected to account for 30 per cent of the market size in the next 10 years.

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