Walmart looks to treble sourcing of goods from India to $10 billion a year
Walmart, the multinational retail hypermarket, has disclosed that it has procured goods worth over $30 billion from the Indian market over the past 25 years for its global operations. The company now aims to triple its sourcing from India to $10 billion annually by 2027. Key Points
Economic TimesWalmart on track to meet $10b annual exports from India by 2027, says sourcing head Andrea Albright
Walmart is on its path to meet the company's goal of sourcing $10 billion in goods from India annually by 2027. Indian sellers have seen double-digit growth on Walmart Marketplace since it opened this year. The company will hold a growth summit in India to further boost exports, scheduled for February 14-15, 2024. Key Points
Economic TimesMultibagger: PDS gained around 1000% in last 5 years. Should you invest in the stock now?
PDS operates as a fashion infrastructure company with a unique business model, offering sourcing, manufacturing, brand management, and investment services. The company serves global retailers such as ASDA, Matalan, and TESCO, and is expected to achieve a 20% revenue CAGR over FY24–27E. Key Points
mintSanjiv Puri on 4 pillars that can take ITC to the next level of growth
Digital is now mainstreamed in our companies. It is part of everybody's job whether it is agri sourcing or procurement or operation, manufacturing, consumer marketing, commerce, everywhere it is there. Key Points
Economic TimesRetailers forced to write-off inventory due to obsolescence, cut sourcing periods
Apparel retailers are facing challenges with unsold inventory, resulting in write-offs and impacting margins. They are reducing sourcing periods to mitigate the risk of obsolescence and adjusting their ordering strategies. The industry was unprepared for the sudden demand slump after the festive season in 2022, leading to stockpile. Retailers are now planning for shorter periods and buying closer to the season. Despite extended discounting, retail sales growth has been negative for like-for-like stores due to a shift in consumer spending towards travel and experiences. Key Points
Economic Times