Word: martelis
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...world's largest retailer isn't new to India. For the past decade, the country has been an important Wal-Mart supplier of textiles, apparel, home products and jewelry. But in anticipation of its India launch, Wal-Mart for the last three years has been developing a network of suppliers to stock its stores with fresh produce and staples like lentils, wheat and rice - all with an appreciation for variations in local cultures and tastes. "India is not a homogenous market, so ours is not a cookie-cutter approach from the U.S.," says Raj Jain, president of Wal-Mart India...
...wholesale operations in India are under a joint venture with New Delhi-based Bharti Enterprises. The U.S. company's retail presence is restricted to providing back-end support for Bharti's chain of 25 Easy Day grocery stores that opened last year. (Read how Microsoft is following in Wal-Mart's footsteps...
...Although other foreign hypermarket chains are entering the country - British retail group Tesco has a joint venture with India's giant Tata conglomerate, while France's Carrefour is said to be in talks with Reliance - Jain says Wal-Mart is in no hurry to unfurl the Wal-Mart flag nationally. "The easiest thing is to roll out stores, but the most difficult is to sustain and feed them," he says...
...Caution in India may be a watchword considering the global recession and Wal-Mart's blemished track record overseas. In 2006, the company pulled out of Germany and South Korea in the face of stiff competition and poor sales. Still, Wal-Mart has been weathering the economic crisis better than most. The company on May 14 announced it earned $3.02 billion in the three months ended April 30, about equal to the profit it made in the same period in 2008. Revenue fell 0.6% to $93.47 billion from $94.04 billion a year earlier. Highlighting the growing importance of markets such...
Read whether Target or Wal-Mart is performing better in the recession...