Walmart India to open 20 cash-and-carry stores in three years

US retail major Walmart's local wing Walmart India has planned on opening 20 wholesale cash-and-carry stores in the country in the next three years, a senior official of the company said on Monday.

Walmart India President and CEO Krish Iyer has said that the company has planned to open two stores in the country in 2018, eight stores in 2019, and 10 stores in 2020. He added that the brand seeks to open 50 stores in the country in the next five to seven years.

The company, which already operates 21 cash and carry stores under the 'Best Price' brand, has signed a Memorandum of Understanding with the Uttar Pradesh government to have 15 stores in the next few years in the state.

Walmart India gets nearly half of its business through non-store or out-of-store channels, which includes business-to-business commerce, associate driven sales and call centers.

The company opened its second business-to-business fulfillment centre in Lucknow today. The fulfillment centre will contribute to the state and local economies by creating jobs and empowering local communities.

(Featured Image – Livemint)