OfficeDepot marks its foray into the Indian Business Product Market
US Based leading supplier of office stationary and services, OfficeDepot and India based Reliance Retail have entered into a joint venture to provide the OfficeDepot’s products and services to the customers in India. For the alliance to be successful, they have also acquired eOfficePlanet, a Mumbai based dealer in office products and services, supplying its product to major businesses and companies throughout the country.
OfficeDepot will serve the Indian business houses by satisfying their demand for office stationery and supplies; office technology; printing solutions; corporate gifting and promotional products; break room, canteen, pantry and janitorial supplies;
The partnership reflects a powerful combination of category leading expertise and global sourcing capabilities of Office Depot with the immense distribution reach and deep customer understanding that Reliance Retail has achieved," said Bijou Kurien, President and CEO of Lifestyle for Reliance Retail.
Country Manager for Office Depot India, Sreenivas Nagappa will be based in eOfficePlanet's Mumbai headquarters and the CEO of eOfficePlanet, Shyam Barilits-Gupta, will be a part of the management team within eOfficePlanet.
The strategic acquisition of eOfficePlanet is expected to strengthen the position of OfficeDepot in the Indian Office product market, which is estimated to be $10 billion. Recently the Future Group signed in a deal with another global stationary provider, Staples and has its products selling at its retail counters.
According to way2franchise.com, there are 500+ franchise brands in India andthe retail segment has over 50 players, including the Mahindra Retail, Fortune Group etc. franchise are seen as a strategic way of spreading its foothold in the market by a company and OfficeDepot has been exploiting it for quite some time now. The Reliance Retail which plans to reshape the Indian retail segment provides franchise license to the investors for setting up of its outlets across in major cities of India and has over 465 retail stores now.
As observed by industry experts, this is seen as a counter move as the Future Group acquired the franchise rights for Staples in India
OfficeDepot marks its foray into the Indian Business Product Market - To learn more about this author, visit Dhawal Shah's Website.
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