Birla CEO: ‘Foreign partners don’t really add value in retail’

In an interview with Rediff Money, Sumant Sinha, CEO of the Aditya Birla Retail venture said that a foreign equity partner does not add significant value to a venture. He also stated that since retail is a local business, stores should hire people from the local community. The company that just unveiled its brand More recently plans to offer convenience to its shoppers by being in locations where customers can easily walk to the stores. He emphasized that knowing the customer was very important as people are not really looking for a lot of choice, but rather come prepared with a list and already know what they want to buy.
Source: Rediff Money

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