Bharti To Take Walmart Call Soon

Johannesburg: Bharti Enterprises will take a decision this month on the shape of its partnership with global retail giant Walmart, including joining hands for operations in the country’s multi-brand segment.

The group, which has a 50:50 joint venture with Walmart for wholesale cash and carry, is understood to be anxious after their partnership came to a standstill, with no new stores being opened.

“Within October, I would say, Walmart should have taken a decision of their vision for India and Bharti could have taken a decision whether it matches our aspirations,” Bharti Enterprises chairman and group CEO Sunil Bharti Mittal said on the sidelines of the second India-Africa Business Council (IABC) meeting here.

He said, “We are awaiting Walmart’s final response to Indian retail and then we will evaluate our options.”

While Mittal didn’t elaborate on the future course of action, sources said the Indian partner was getting anxious as Walmart’s indecision was affecting even their cash-and-carry venture, which runs Best Price Modern Wholesale stores.

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Source: PTI