The American retail conglomerate, Walmart, has recently joined India with its other potential markets portfolio in its latest restructuring. The company has additional charges of India and Africa to Enrique Ostale, the new Latin America Chief Executive.
Earlier India was a part of Asian markets at Walmart. Commenting on the restructuring, Ostale said, “The new realignment of the businesses is designed to bring focus and synergies among similar emerging market.”
Krish Iyer, CEO, Walmart India will now report to Ostale. Previously, Iyer reported to Scott Price, Chief Administrative Officer, Walmart International and Head of Asia. Price will now handle China and Japan.
“With these changes, we are well positioned to better serve our customers around the world while strengthening our overall business,” said David Cheesewright, CEO, Walmart International.
Walmart is bullish on India and is expected to open dozens of its Best Price branded wholesale stores in the coming years. It runs the India business solo after breaking its partnership with Bharti Enterprises in 2013.
Walmart India operates 21 Best Price stores in nine states. The Bentonville, US-based retail giant plans to add 50 stores by 2020. Walmart India has also launched its business-to-business ecommerce platform in July 2014, and the service is currently operation in all its 21 stores.