Reliance in joint venture with US retailer Office Depot
23 Apr 2008
New Delhi: In accordance to plan to expand its retail presence in the country in association with global retail giants, Reliance Retail has announced a joint venture agreement with US-based Office Depot, a global provider of office products and services.
Earlier in the week, Reliance acquired Mumbai-based eOfficePlanet, an online of office products and services , which supplied its private brand of office products. Its product line up includes office stationery and supplies, office technology, printing solutions, corporate gifting and promotional products, break room, canteen, pantry and janitorial supplies.
In a statement, Reliance said the joint venture will seek to synergise the global resources of Office Depot with Reliance's local market knowledge and to form a ''sophisticated supply chain network and enhance eOfficePlanet's merchandising and sourcing capabilities.''
The 50:50 joint venture with Office Depot comes close on the heels of an arrangement with the UK-based apparel and retail chain Marks & Spencer.
Sreenivas Nagappa has been appointed country manager for Office Depot India, and will be based in eOfficePlanet's Mumbai headquarters. Shyam Barilits-Gupta, the incumbent CEO of eOfficePlanet, will continue as part of the management team within eOfficePlanet, the statement said.