Office equipment retailer Staples, Inc. said today it formed a joint venture with India's Pantaloon Retail Limited and Pantaloon's new office products business unit, Future Office.
The agreement establishes a platform for Staples to enter the U.S. $10 billion office products market in India. Staples Future Office will serve businesses of all sizes through delivery as well as cash-and-carry locations, with products ranging from core office supplies to equipment such as printers and computers. Future Office, which recently acquired business-to-business online office products company Officedge, will expand its delivery operations to include Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Ahmedabad, Indore, and Chandigarh.
Pantaloon Retail (India) Limited, the flagship company of the Future Group, is headquartered in Mumbai and had retail sales of more than U.S. $450 million in its 2005-2006 financial year.
Staples, headquartered near Boston, Massachusetts, U.S., had 2005 sales of $16.1 billion and serves consumers and businesses in 22 countries in North and South America, Europe and Asia.
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