Wednesday, February 07, 2007

Wal-Mart CEO to visit India on Feb 22 to formalize agreement

Wal-Mart's chief executive and president Michael T Duke will be coming to India on February 22 to finalize and sign its joint venture agreement with Bharti Enterprises. The company will be operating cash & carry outlets as well as regular retail stores which Bharti will operate at the front end and Wal-Mart will take care of the back end logistics, supply chain etc. So far, the companies have signed a MoU that declares their intention to jointly operate retail and wholesale outlets in India. The CEO will also be announcing the number of cash & carry stores the company will be opening, and the company's long term strategy for the country.

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