| Business: Bharti discloses details for its Retail Venture |
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 Bharti Retail (Pvt.) Limited, a wholly owned subsidiary of Bharti Enterprises, today 21'st Feb 2007 announced the strategic roadmap for its retail operations in India. The Company has planned an investment of $ US 2 to 2.5 billion by 2015. Bharti Retail is looking at approximately 10 million square feet for retail operations across all cities in India where a population is over a million.
It plans to employee over 60,000 people who include ex-servicemen, women and youth.
Bharti Retail plan to lunch the stores in multiple consumer formats, which will include Hypermarkets and Supermarkets, for the small stores Bharti Retail is planning to partner with existing local storeowners across India through a franchise model.
Bharti Retail proposes to serve all regular shopping requirements of an average Indian household. This will include all food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles. Bharti Retail will keep adding to the product portfolio in line with consumer aspirations, preferences and trends in the international market.
Mr. Rajan Bharti Mittal, Joint Managing Director, Bharti Enterprises said, “After revolutionizing the Indian telecom sector, retail will be the next big focus area for Bharti. Organized retail, which currently accounts for only 3% of the total market, has tremendous growth potential in the fast expanding Indian economy. Not only will it benefit millions of consumers but also farmers, small manufacturers and artisans. The sector will also offer enormous direct and indirect employment opportunities while attracting huge investments in building the supply chain infrastructure, adding to the economic growth of India, especially in rural areas.”
“Bharti with its in-depth understanding of the Indian consumer, experience of running all India operations, ability to attract & grow talent and capability to deliver a great experience at affordable prices, is uniquely placed in the Indian retail sector. We will bring great value to consumers by offering quality products at affordable prices”, he added.
In addition to providing choice and quality to consumers at affordable prices, the efficient supply chain management and ‘on time’ availability of goods will help fight inflation. Bharti’s retail chain will provide ready outlets to the relatively ‘unknown’ brands of small manufacturers, which are sold as private labels. A significant percentage of the overall volumes are expected to be sourced from the small-scale sector.             |