Devendra Chawla, from Future Group, was hired by Walmart India as Chief Operating Officer. This move was made as a part of the company’s bigger plan to strengthen the buying power of user goods, particularly foods.
Being a Harvard alumnus, in early 2009 Chawla has worked with Coca-Cola and Asian Paints prior to working with Future Group to design almost 3 dozen in-house brands. He was previously head at Food Bazaar.
In January 2017, he was promoted as the Chief Executive of Future Consumer, the consumer goods company. His recruitment at Walmart was declared in a town hall conference conducted this week. He is likely to join in the week two of next month. Walmart India’s representative claimed that Chawla will report to Krish Iyer, the India CEO and will commence as COO of merchandising, omni-channel, and marketing.
The largest retailer of the world handles 21 carry and cash stores in India, with small businesses and retailers being its chief users. The wholesaler aims to unlock 50 such stores in the coming 3 Years. The company provides its own brands, Right Buy and Members Mark, from inside the nation. This is something that goes well with “Make in India.”
The government presently permits 100% FDI in the food retail venture. Previously, this month, DIPP (Department of Industrial Policy and Promotion) accepted proposal of Amazon to spend almost $500 Million to construct out a food retail venture. In 2016, Walmart claimed that it was concerned in trading food goods straightly to Indian users both by installing up online as well as brick-and-mortar shops, but it will take the concluding decision after inspecting the guidelines of the policy.
Morgan Stanley anticipates the grocery and food segment of the country to turn out to be the fastest-developing segment, growing at a yearly annual rate of 141% by the end of 2020. It will be then making a share of 12.5%, or $15 billion, of total retail trade. While most of the retailers get 55–60% of their trades from general merchandise as well as staples & food, home and personal products make up most of their gain with margins as high as 10–15%.