India's largest retailer, The Future Group, has joined forces with British wholesaler Booker Group for a new line of cash and carry stores, India's Economic Times reported Tuesday.
The equal joint venture of Financial Consumer (FCL) and the wholesaler plan to roll out 60-70 stores in the next three years, selling to local small retailers, hotels and catering firms.
This will put it in direct competition with Walmart India and Metro Cash & Carry.
"Booker India has developed one of the lowest cost distribution networks for FMCG products through its cash and carry network in India," said Kishore Biyani, vice-chairman of FCL.
"We will leverage their expertise in engaging with small, neighbourhood retailers and reach out to them with FMCG brands and products developed by our organisation."
Booker entered the Indian market in 2009 and to date has opened six stores in Maharashtra and Gujarat. Future Group has over 13 million square feet of floor space and 295 million customers, selling own brands to Tata StarBazaar, Metro and Spar, The Economic Times said.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
