Making a much-awaited entry to Visakhapatnam, Walmart India has finally opened its shop in the city. Andhra Pradesh Panchayat Raj and IT Minister Nara Lokesh presided as the Chief Guest at the opening ceremony of the store on Wednesday.
“Delighted to inaugurate Walmart India’s sustainable store in Vizag, which is their 23rd in India. The store will create direct/indirect employment for 2000 local youth and boost the regional farming economy since vegetables will be sourced directly from farmers,” the minister shared on his social media portals. The Visakhapatnam store marks Walmart’s fourth outlet in Andhra Pradesh.
Speaking at the event, President and CEO of Walmart India, Krish Iyer the organisation is planning to open seven more stores in the state, including the second one in Visakhapatnam. Informedly, the other locations are Tirupati, Kurnool, Vizianagaram, Kadapa, Kakinada, and Nellore.
Mr Iyer also praised the state government for providing an easy platform for doing business and said that the store aims at providing the best prices to the farmers.
Walmart is an American multinational retailing corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The organization currently has close to 12,000 stores all across the globe including prominent markets such as the United Kingdom, South America, and China. Its biggest market is, however, the USA which generates around 63% of its total revenue. Apart from being the world’s largest company by revenue, The store is also the world’s largest private employer with close to 25 lakh employees. It is a family owned business which is run by the Walton family.
Currently, the organization has numerous stores operating in India, including one each at Hyderabad, Vijayawada, Guntur, and Rajahmundry.