"Hopefully the situation will settle down and we'll launch soon." The Bharti Wal-Mart centre, named Best Price Modern Wholesale, will be the first of 10 to 15 planned stores, measuring 50,000-100,000 sq ft each. The C&C chain is expected to employ about 5,000 people in the next seven years.
RUSSIA: German retail giant Rewe is planning to open 20 new stores in central Russia. "The 20 new locations complement our existing store base of 49 supermarkets, primarily situated in Moscow," the retailer confirmed, adding that the expansion would create 800 jobs.
Frank Hensel, CEO of Rewe international, said that the recession had not hit the retailer in Russia: "Despite the economic situation, our performance in the Russian market has been very successful," he said. "In 2004, we launched our concept in Russia; since then, we have achieved annual growth rates of between 30% to 40%."
THE NETHERLANDS: Ahold has announced the appointment of Jan van Dam as president and CEO of Albert Hypernova, Ahold's supermarket business in the Czech Republic and Slovakia, with effect from 10 August. Van Dam, currently general manager of Etos, Ahold's pharmacy business in the Netherlands, will succeed Johan Boeijenga.
Boeijenga, who joined Ahold in 1988, has held key management positions in the company. Since 2006, he has managed the restructuring and rebranding of Albert Hypernova. He has decided to leave the company to pursue a career outside Ahold in the Netherlands.
USA: Convenience store chain 7-Eleven has announced aggressive expansion plans this year, with an extra 200 new stores planned. The company said it would accelerate store development through organic growth and acquisitions. 7-Eleven has a multi-pronged approach to growth that includes space in shopping centres, freestanding stores, city residential areas and suburbia. The company, which operates and franchises more than 6,200 stores in the United States and Canada, opened 170 stores in 2008. 7-Eleven is looking to partner with property owners on new site development.
AUSTRALIA: Discount chain Not Quite Right has collapsed with the loss of 400 jobs. Administrators plan to keep the 25 stores open while they attempt to sell the business. "I will be reviewing the company's financial position to determine the options and opportunities for the business," administrators said in a statement. Not Quite Right was established in 1987 and bought by private equity group Hastings in 2006.