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Bharti Enterprises will unveil the details of the Bharti-Wal-Mart retail venture in the Capital on Monday. The announcement will come under the shadow of the controversy over UPA chairperson Sonia Gandhi’s letter to the Prime Minister’s Office, urging it to assess the likely impact of allowing foreign direct investment in multi-brand retail and the Bharti-Wal-Mart venture. The venture is expected to reiterate the fact that their joint move will only be for the cash-and-carry model, and that the venture will not be a backdoor entry for Wal-Mart. Bharti already has a little less than 100 employees in its retail team which is headed by Vinod Swahney. The company has also signed properties at Jasola, Ludhiana, and west Delhi for large formats with areas of over 1 lakh sq ft. Also, the company has been actively negotiating for proprieties for a format similar to Reliance Fresh’s all over the country. Among major retail rollouts so far, Reliance has announced its Rs 25,000-crore retail strategy and has begun coming up with Reliance Fresh stores. Aditya Birla Retail recently acquired southern India-based retail chain Trinethra, and is going to start rolling out its supermarkets by June.
Date: 19-Feb-2007
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