SPAR International and Max Hypermarket India Private Limited have announced their intention to pursue separate strategies to grow their existing retail presence in India.
SPAR and Max Hypermarkets have enjoyed a very successful business relationship which has seen the launch of 13 SPAR branded modern hypermarkets across five states in India. All of the stores are trading very well and their success is confirmation that the SPAR retail offering has been very well received by consumers.
In order to take their respective businesses forward in India, SPAR wishes to extend its footprint nationwide through new partnership arrangements with a range of national and regional retailers. Separately, Max Hypermarkets is in discussions with potential partners to expand their business in India.
The current License Agreement between the two parties will therefore not be renewed after 31 December 2012.