Office Depot Enters India Market in Joint Venture
Delray, Fla. Office Depot Inc. announced Tuesday that it has formed a joint venture with a unit of India’s Reliance Industries Ltd. to provide office products and services to business customers in India.
The joint venture between Office Depot and Reliance Retail Ltd. has purchased eOfficePlanet, an Indian dealer of office products and services, to help speed up the rollout of its operation
Terms of the acquisition were not disclosed.
Sreenivas Nagappa will serve as country manager for Office Depot India and will work out of eOfficePlanet’s Mumbia headquarters. EOfficePlanet CEO Shyam Barilits-Gupta will remain part of the company’s management team.
Office Depot’s move into India via the joint venture underscores the emerging trend that has retailers around the world eyeing India for growth. In fact, according to a recent survey published this month by CB Richard Ellis, 27% of international retailers surveyed as part of the “Global Emerging Markets Survey” opened their first store in India in the past year or will soon open a store—making India the most sought-after emerging market.
Linens ‘N Things troubles lead to talks with vendors over supply
CLIFTON, N.J. Linens ‘N Things said on Friday that while it seeks to restructure its debts, it has formed an ad hoc committee of its major vendors in order to discuss how to ensure an uninterrupted supply of products.
The retailer is in talks with a committee of its debtholders about altering its capital structure and said that similar discussions were under way with the vendors, as well.
The Wall Street Journal reported that the company could file for Chapter 11 bankruptcy protection and early last week, Linens ‘N Things reported that it had delayed a $16 million interest payment and that its lenders had agreed to delay exercising their right to stop making loans to the company.
The company claims that its problems have been caused primarily by the credit crunch, housing downturn and consumer spending slowdown in the United States.
Ceo Robert DiNicola said in a statement that the company was evaluating its options and exploring “several alternatives in our efforts to recapitalize the company.”
Winn-Dixie promotes senior director to vp, Neighborhood Marketing
JACKSONVILLE, Fla. Winn-Dixie has announced the promotion of Jim Carrado to vp, Neighborhood Marketing from senior director of Neighborhood Merchandising. He will be responsible for executing strategies centered on Hispanic, urban and affluent clusters and will work closely with all areas of the business, including merchandising, marketing and operations. Carrado will continue to report directly to Dan Portnoy, senior vp and chief merchandising and marketing officer.
In his previous position of senior director, Carrado orchestrated the fixture plan development and product merchandising plans for all remodeled stores. He also developed the company’s new product implementation strategy and created and implemented the clustering process and framework for neighborhood merchandising.
Prior to joining Winn-Dixie in 2003, Carrado worked for Spartan Stores. Before that, he worked at Ralph’s Supermarkets for 14 years and later served as vp of merchandising at Sutton Place Gourmet.