Over the years, several international brands that have only considered metro cities, have started to recognise Pune’s potential. The last year itself has seen visible growth in the fashion retail luxury segment, with brands such as H&M, Brooks Brothers and Gant launching in Pune. It seems that the trend will continue to other sectors with Walmart searching for locations.
For those who don’t know, Walmart is an American multinational retail giant that operates multi-brand stores in the form of hypermarkets, department stores and grocery stores. They already have 21 stores across India and are all set to open 15 more in Maharashtra alone at an investment of INR 900 Crore. Out of these 15, 3-4 stores will be in Pune.
Small kirana stores in the state have always been in opposition of foreign multi-brand retail stores; they have had the support of the NDA (National Democratic Alliance), due to which Walmart will operate as B2B only (sell to registered customers only).
Walmart is going to benefit only from wholesale to customers such as hotels, retailers, caterers, traders, and more. As of now, they do not have permission from the government to cater to individual consumers, but they might soon!
The government is now considering allowing 100% Foreign Direct Investment (FDI) in order to create more jobs. Each store of Walmart directly employs 200-250 people, and indirectly employs close to 1600 people.
Each Walmart store will be spread across about four acres of land. Once the location is finalised, it will take up to two years to set up shop.
What this means for Pune is that, great things are to come! Psst.. we’ve also got news that Ikea will be next!