METRO Cash & Carry turns profitable in India after 15 years of operations - Indiaretailing.com
2 May 2019 11:00 PM GMT
METRO was the first cash & carry player to foray into India in 2003. Since then it has opened 27 wholesale distribution centers across the country spanning 1.8 mn sq. ft. of gross floor area and c
- "It has taken us some time to find the right success formula in India but with a focused approach, we have been able to break-even and turn profitable after 15 years of successful operations in India,"says Arvind Mediratta , Managing Director & Chief Executive Officer at METRO Cash & Carry India, in an exclusive interaction with Progressive Grocer.
- With India becoming one of the largest preferred retail destinations globally, the Indian retail market and cash & carry trade are both growing at a fast pace.
- Demonetization and introduction of GST has further helped the organized wholesale and retail segments gain a significant share of pie from the unorganized market, which augurs well for modern retail and cash & carry business.
- To give a perspective: India has a huge potential of about 600 Cash & Carry outlets across Tier I, II & III cities.
- We were the first cash & carry player to foray in India in 2003, and since then we have opened 27 wholesale distribution centers across the country.