18 January 2007 — Mumbai (IND): Staples has announced a joint venture with Kishore Biyani’s Pantaloon Retail, nearly two weeks after OPI first broke news of the deal.
According to Staples: "The agreement establishes a platform for Staples to enter the $10 billion office products market in India and allows Pantaloon to benefit from the industry expertise and sourcing network of the world’s largest office products company."
Staples CEO Ron Sargent said: "As Staples expands globally, India represents a great opportunity for the company. This partnership combines Pantaloon’s local business knowledge and leading brand with Staples’ best practices and global procurement strength."
Kishore Biyani, Pantaloon chairman and CEO said: "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."
The retailer has said that 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 B2B online office products company Officedge, will expand its delivery operations to include Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore and Chandigarh.