Retail in Asia

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Shoprite confirms plan to exit India

Shoprite group chief executive Whitey Basson has confirmed that the retailer is preparing to exit India. The South African-based retail group announced this while presenting its interim results, stating that the decision was due to constraining legislation and price rules that made a single store operation unprofitable.The retailer has been operating a hypermarket in Mumbai for six years.

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(Source: Retail Week)