New Delhi, July 18 (IANS) Cash and carry firm LOTS Wholesale Solutions on Wednesday unveiled its first wholesale distribution centre in India.
According to the company, the business-to-business (B2B) store located at Netaji Subhash Place in New Delhi will be open from July 19, 2018 and is the first of 15 distribution centres planned to be opened in India over the next three years.
The company had announced its foray into India at the World Food India 2017 with a Memorandum of Understanding (MoU) worth Rs 1,000 crore signed with the Ministry of Food Processing Industries.
“With its initial footprints in Delhi NCR, LOTS Wholesale Solutions will help generate 5,000 direct and indirect jobs over the next five years,” the company said in a statement.
The newly launched store is expected to cater to over 50,000 registered members which include hotels, restaurants and caterers (HoReCa), kirana stores, corporates, MSMEs and institutions such as government agencies, educational institutes and hospitals.
The new store was inaugurated by Minister of Food Processing Industries Harsimrat Kaur Badal.
“Indian retail sector is growing exponentially, more particularly food retail is pacing past other sectors. Food processing and Food Retail are recording robust growth,” Badal was quoted as saying in the statement.
“Arrival of the multinational companies like CP Wholesale in India and registering their presence by opening chain of stores in India and inauguration of their first store LOTS in Delhi shows the popularity of Brand India in the world.”
The company offers curated assortments, categorised into food and beverages, kitchenware, household appliances, home decor, furniture, bedding, textiles, stationery and office supplies, electronic products and others.