Bharti Retail to open first outlet in Q1 FY 2008-09

New Delhi, Dec 10 (UNI) Bharti Retail, a unit of Bharti Enterprises Ltd, will come up with its first outlet in the first quarter of financial year 2008-2009 in north India.

''The first store will be opened in the first quarter of next fiscal in northern part of the country. Our outlets will cater to the entire basket of consumer needs including fruits, vegatables and FMCG,'' Bharti Enterprises Ltd Managing Director Rajan Bharti Mittal told reporters here.

The company also plans to open 15 outlets over the next five years, Mr Mittal said.

Bharti Retail's joint venture with Wal-Mart stores for wholesale retail stores will begin operations in the second half of the next year.

Replying to a question Mr Mittal said, the company is also planning to scale up the headcount to 65,000 by 2012.

Bharti Retail will not only employ people from the country as well as overseas, the Managing Director said.

Bharti Enterprises, recently, signed an agreement with the world's largest retailer Wal-Mart stores for foraying in the retail business.

The two companies inked an MoU to jointly explore business opportunities in the country. The MoU will allow the two companies to study and evaluate the retail market in India and identify business opportunities together within the existing guidelines.

Bharti would manage the front-end of the retail business, while Wal-Mart would take care of the supply chain, logistics and other back-end operations.

UNI