Landmark eyes alliance for stores

NRI retailer Landmark group, aiming a $1 billion turnover by 2010, is in talks with two to three foreign players for a technical arrangement, to set up large format stores in India. The foreign company would provide both front-end and back-end support and IT services. The group was earlier in talks with French group, Carrefour, the world's second largest retailer. "We are in talks with two-three foreign companies and expect to have the tie-up in place by the end of the year, by which time we will also open our first hypermarket in Bangalore", Ramanathan Hariharan director Landmark group, told Times of India on Thursday. He declined to disclose the names of the companies or whether talks were still on with Carrefour. He said the group will foray in the fresh foods business by year-end. "The agreement may be a simple franchise arrangment with the foreign company or with some investments, whatever is legally permissible. We are looking at all options and studying available models in the country", he added.

Courtesy: EconomicTimes
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