Staples makes deal for Indian expansion
Staples Inc. Jan 18 announced a joint venture with India's Pantaloon Retail Limited and its new office products business unit, Future Office.
The $10 billion Indian office products market represents a "great opportunity" for Staples, Framingham, MA, as the company continues to expand globally, said Staples chairman/CEO Ron Sargent in a statement.
Future Office, which recently acquired business-to-business online office products company Officedge, will expand its delivery operations to include Delhi, Mumbai [Bombay], Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore and Chandigarh.
Staples Future Office will serve businesses of all sizes through delivery as well as cash-and-carry locations, offering a wide range of office products from core office supplies to printers and computers.
Pantaloon Retail is headquartered in Mumbai and had sales of more than $450 million for the 2005-2006 financial year. The company caters to lifestyle and value segments across multiple store formats.
In September, Office Depot bought Papirius s.r.o., one of the largest business-to-business suppliers of office products and services in eastern Europe.