Pantaloon Retail (India) has announced signing of an agreement to set up a JV between the US-based, world`s largest office products company, Staples and Future Office- its 100% subsidiary business unit.
The Boston -based USD 16.1 billion, Staples, which invented the office superstore concept in 1986, is the world’s largest office products company, has presence in 21 countries through a network of 1,800 stores and 69,000 employees. Staples’ range of office products include supplies, technology, furniture, and business services.
While, the JV agreement will allow Staples to enter the office products’ market in India, it will allow Pantaloon Retail to benefit from the industry expertise and sourcing network of Staples. In a related development, Future Office had recently announced acquisition of the operations and management of Officedge, an online B2B office products company providing contract delivery services to corporate customers across the country.
“The office products business in India presents tremendous opportunities for growth. Through our partnership with Staples, the industry leader, we can become the office products provider of choice for businesses throughout India,” said Pantaloon Retail MD and CEO Kishore Biyani, commenting on the deal.
Staples Future Office would 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, printers as well as computers. Future Office would expand its delivery operations in all major cities of the country, including Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore and Chandigarh.
The deal is a part of the group’s strategy to become the leading provider of office products in India.