Reliance Retail ties up with Office DepotApril 23rd, 2008 - 12:25 am ICT by admin
Mumbai, April 22 (IANS) India’s Reliance Retail Ltd (RRL) has entered a joint venture (JV) with US-based Office Depot, a global provider of office products and services . With this partnership, Office Depot marks its entry into India - one of the the top 15 office product markets in the world, said a RRL spokesperson.
To accelerate the rollout of the JV, both firms have also announced the acquisition of eOfficePlanet, a leading dealer of office products and services to corporate customers in India.
President and CEO of Reliance Lifestyle Bijou Kurien said in a statement that the JV would help RRL establish a supply chain network and enhance eOfficePlanet’s merchandising capabilities.
He said RRL has embarked on an ambitious plan to transform the retail market in India and, “in order to provide a range of options for the business customers we have partnered with Office Depot, a company which has immense distribution reach and international sourcing capabilities”.
President of Office Depot (international division), Charles Brown, also expressed optimism on the partnership, stating that the JV and “acquisition of eOfficePlanet would put the firm in a leadership position in India”.
According to the statement, Sreenivas Nagappa, country manager for Office Depot (India), will be based in eOfficePlanet’s Mumbai headquarters, while the current CEO Shyam Barilits-Gupta will continue to be part of the management team with eOfficePlanet.