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Metro Cash & Carry Turns Profitable In India After 15 Years Of Operation
Progressive Grocer
|April 2019
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 catering to over three million customers nationwide. “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.
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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 catering to over three million customers nationwide. “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.
How do you look at the growth rate of the wholesale cash & carry trade in India in relation to the pace of growth in modern retail and how do you evaluate the opportunities and challenges for this format in the country?
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. Digitization has changed the whole landscape of retail and wholesale cash & carry segment. 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.
Denne historien er fra April 2019-utgaven av Progressive Grocer.
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