Retail giant Walmart to soon set up store in Visakhapatnam

Walmart in Visakhapatnam!

World’s largest retail store by revenue, Walmart, is set to open up its store in Visakhapatnam. The retail giant will soon be commencing its operations from a store in Gajuwaka. The store is expected to come up in the latter half of 2018, it has been learned.

“We have acquired roughly four acres near Autonagar on lease and will complete the construction in two months with a built-up area of 56,000 sq ft and parking facility for 150 cars,” Walmart India Chief Corporate Affairs Officer Rajneesh Kumar was quoted as saying on Monday.

The store, which is at an advanced stage of construction, will generate 2000 direct and indirect jobs, Mr. Kumar said. While most of the products will be comprised of the produces from local farmers and vendors, the store will also have Girijan produced honey and Araku Valley Coffee, The Hindu Business Line reported.

About Walmart

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 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 21 stores operating in India including one each at Hyderabad, Vijayawada, Guntur, and Rajahmundry. Visakhapatnam will be Walmart’s fourth venture in the state of Andhra Pradesh.

Information Credits-The Hindu Business Line