"We currently have 21 stores and plan to open 50 stores in four to five years
Members of Swadeshi Jagran Manch protest against Walmart, in New Delhi, on Thursday. Pic/PTI
A day after announcing $16 billion investment in India's largest online retailer Flipkart, Walmart Inc on Thursday said it would continue to grow its wholesale cash-and-carry business, adding 50 new stores in the next four-five years.
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"We currently have 21 stores and plan to open 50 stores in four to five years. Plans are on track," Walmart India President and CEO Krish Iyer said at a media roundtable.
Walmart Chief Executive Doug McMillon said Flipkart group, in which the US retailer is acquiring 77% stake, would continue to operate as a separate board-managed company.
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