Best Buy reported to be looking to India

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30 May 2007 — Mumbai (IND): A team from Best Buy has recently visited India for talks with potential partners about setting up a presence in the country.

The team met with representatives of electronic firms including LG and Samsung to gain insight into the market. The meeting was arranged by Vivek, which operates three consumer electronic retail formats in the country including Viveks, Jainsons and Premier.

 

According to Indian newspaper The Economic Times: "The buzz suggests that Best Buy may enter into a partnership with Vivek Ltd to enter India.

 

"In the event the deal comes through, it may be a technical and sourcing agreement along the lines of the Tata group’s recent pact with Australian retail major Woolworths for its Croma retail chain."

 

Susan Busch, director of corporate public relations at Best Buy, told the publication: "Our focus is on growing our business in Canada and China as well as our core US business. Our expansion into new countries will commence in Mexico and Turkey where we are recruiting leadership, assessing customer segments and property portfolios. I cannot speculate about expansion plans in India."