Also, American Kmart set for Indian debut
Kmart, one of America’s leading discount retailers, is the latest to vie for a share of India’s $12-billion organised retail market.
By Mayur Shekhar Jha & Deepshikha Monga, TNN |
NEW DELHI: Kmart, one of America’s leading discount retailers, is the latest to vie for a share of India’s $12-billion organised retail market. The Michigan-based retailer is believed to be gearing up for an India foray with cash-and-carry stores, which will be its first in the world. This apart, there are plans to forge a franchisee tie-up with an Indian partner. Kmart executives recently met Department of Industrial Policy and Promotion officials and discussed their entry plans.
Kmart, which operates in the discount store and hypermarket formats, hopes to get an insight into the Indian retail market through the cash-and-carry venture, which could be leveraged when the government allows FDI in multi-brand retail. Currently, 100% FDI is allowed in the cash-and-carry format under the automatic route.
Kmart, which operates in the discount store and hypermarket formats, hopes to get an insight into the Indian retail market through the cash-and-carry venture, which could be leveraged when the government allows FDI in multi-brand retail. Currently, 100% FDI is allowed in the cash-and-carry format under the automatic route.
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