Staples is entering into a joint venture with India‘s leading retailer, Pantaloon Retail Ltd, and its new office products business unit, Future Office. The agreement establishes a platform for Staples to enter the $10 billion office products market in India and allows Pantaloon to benefit from Staples’ industry expertise and sourcing network.
“As Staples expands globally, India represents a great opportunity for the company,” said Ron Sargent, Staples Chairman and Chief Executive Officer. “This partnership combines Pantaloon’s local business knowledge and leading brand with Staples’ best practices and global procurement strength. Staples looks forward to working with the Pantaloon team.”
“The office products business in India presents tremendous opportunities for growth,” said Kishore Biyani, Pantaloon Chairman and Chief Executive Officer. “Through our partnership with Staples, we can become the office products provider of choice for businesses throughout India.”
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 to computers. Future Office, which recently acquired B-to-B online office products company Officedge, will expand its delivery operations to include Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore and Chandigarh.
About Pantaloon Retail (India) Limited
Pantaloon Retail (India) Limited, the flagship company of the Future Group, is a leading Indian retailer with sales of more than Rs. 20.00 billion (USD 450 million) for the financial year 2005-2006. Headquartered in Mumbai, the company has stores in over 30 cities across the country, constituting close to four million square feet of retail space.
For more information, visit www.pantaloon.com
About Staples
Founded in 1986, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 22 countries throughout North and South America, Europe and Asia. Headquartered near Boston, Staples operates more than 1,800 office superstores and also serves its customers through mail order catalogue, e-commerce and contract businesses.
For more information, visit www.staples.com.
