Global retail giant, Walmart Stores is now focussing on the sale of fashion products directly to Indian consumers. Walmart is exploring the possibility of selling its 'George' brand of clothing and home products on third-party ecommerce sites..
Global retail giant, Walmart Stores is now focussing on the sale of fashion products directly to Indian consumers. Walmart is exploring the possibility of selling its 'George' brand of clothing and home products on third-party ecommerce sites, according to a person familiar with the development. "Walmart is in a very early stage of exploring the market for George," the person said, asking not to be identified.
"George is Walmart's largest private label and is a more than $2 billion brand." The person said the world's biggest retailer wants to capitalise on the growth of the fashion market in India. George is owned by Asda Stores, the UK retailer that Walmart acquired in 1999.
"I'm afraid I don't have any details to share. We're constantly reviewing markets where we believe George will perform well, but there's no more to it than that," Jo Newbould, a Bentonville-based Walmart spokesperson, said in an e-mailed reply.
Walmart, which posted consolidated net sales of $482.2 billion in fiscal 2015, is trying to get a toehold in India's ecommerce market, where its biggest US rival Amazon is making waves. India's e-retailing segment has been growing at 56% a year, swelling to Rs 13,900 crore annually in 2012-13 from Rs 1,500 crore in 2007-08, according to Crisil.
Last year, Amazon announced it would invest $2 billion in India as its fights for leadership with domestic rivals Flipkart. com and Snapdeal.com. Walmart started a pilot project in Lucknow and Hyderabad in July last year allowing members of its Best Price Modern Wholesale stores to buy products online through its website www.bestprice.in.
Walmart has extended the B2B ecommerce service to all 20 of its Best Price outlets. Walmart is now preparing to add another cash-and-carry store in Agra in August, after a gap of about four years.
The company had put its expansion on hold in India after an internal probe to check whether Walmart's India unit flouted US anti-bribery laws. Walmart plans to sell not only Georgebranded apparels but also toys, baby products and home products online in India, the person said. Walmart sells George products in countries including China, Argentina, Mexico and Japan.
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