REAL ESTATE

Report: Wal-Mart looks to open first India store within 18 months

BY Katherine Boccaccio

New Delhi, India — A Friday report by the Wall Street Journal disclosed that Wal-Mart Stores Inc. expects to open its first retail stores in India within the next 12 to 18 months.

In an interview with WSJ, Scott Price, Asia president and CEO of Wal-Mart, said that the retailer has not pinpointed where the first stores will be located or ultimately how many there will be. But the latest decision handed down by the Indian government allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.

Price told WSJ that the company expects to continue its current partnership with India’s Bharti Enterprises in a chain of 17 cash-and-carry stores, but it is not in discussions with any other companies for a potential retail partnership.

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Mar-28-2013 09:53 am

Glad to hear they're gonna
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Mar-28-2013 09:53 am

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OPERATIONS

Costco and Macy’s take home World Retail Awards

BY Marianne Wilson

New York — Two U.S. retailers took home top honors at the 2012 World Retail Awards in London, with Costco Wholesale Club named “Retailer of the Year,” and Macy’s recognized as “Multichannel Retailer of the Year.” The awards were announced as part of the 2012 World Retail Congress.

In other awards, Ikea was presented with the “International Retailer of the Year” award, and Charlie Mayfield, chairman of John Lewis, was given the “Outstanding Leadership” award, Marks & Spencer and Woolworths South Africa were joint winners of “Responsible Retailer of the Year” award.

The “Store Design of the Year” award went to Fangsuo Commune, in Guangzhou, China. The “Emerging Market Retailer of the Year” award went to Turkey’s biggest consumer electronics retailer, Teknosa.

The co-sponsors of the 2012 World Retail Congress are Deloitte and Mastercard.

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News

Home Depot names new board member

BY CSA STAFF

ATLANTA — The Home Depot has named Mark Vadon to its board of directors. Vadon will be a member of the audit and finance committees. His appointment gives the company 11 directors, 10 of whom are independent.

In 1999, Vadon co-founded Blue Nile Inc., the leading online retailer of diamonds and fine jewelry, and has served as the chairman of its board of directors since its inception. During Blue Nile’s history, Vadon has also served as its executive chairman (from 2008 to 2011), chief executive officer (from 1999 to 2008) and president (from 1999 to 2007). Prior to co-founding Blue Nile, Vadon was a consultant for Bain & Company, a management consulting firm, which he joined in 1992. In 2009, Vadon co-founded Zulily Inc., a daily deals site for moms, babies and kids. He serves as the chairman of its board of directors.

"Mark’s expertise in developing and implementing successful online strategies will be a benefit to our company and an asset to our board," said Frank Blake, chairman & CEO. "I am pleased to welcome him to the board and look forward to his contributions."

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