Tata, Woolworths end 5-year retail partnership

Mumbai: Tata Group has not renewed a five-year agreement with Australia’s largest retailer Woolworths for retailing consumer electronics in India, the Economic Times reported on Monday, quoting unnamed persons close to the development.

Tata-promoted Infiniti Retail, which runs the Croma and Croma Zip stores, did not renew the agreement that ended in October, and has begun setting up independent warehouses in Mumbai, Bangalore and Chennai, the paper said.

[caption id=“attachment_115531” align=“alignleft” width=“380” caption=“Tata-promoted Infiniti Retail, which runs the Croma and Croma Zip stores, did not renew the agreement that ended in October. Screengrab/cromaretail.com”]  [/caption]

Woolworths provided strategic sourcing to Infiniti from its global network, but the partnership did not involve any financial investment, the report said.

Woolworths is understood to be exploring legal options to challenge Infiniti Retail’s decision to call off the partnership, the paper said.

More from Fwire

BCCI earned more than Rs 2,400 crore in IPL 2022, reveal documents Eight Russian judokas barred from world championships after Ukraine boycott

“We are committed to our India business, our alliance with the Tatas and our retail electronics relationship with Infiniti Retail,” Woolworths said in an emailed reply to the paper.

The Tata group’s external spokeswoman did not immediately respond to queries on the matter. Woolworths officials in India could not be reached for comment.

Reuters