Office Depot is entering the Indian market after sealing a joint venture agreement with Indian group Reliance Retail. Office Depot will hold a 51 percent stake in the venture with Reliance holding the rest.

 

The joint venture announced yesterday that it  has already acquired eOffice Planet, an independent contract stationer in. According to Office Depot, eOfficePlanet provides national and private brand office products to companies in India.

 

Sreenivas Nagappa will serve as country manager for Office Depot India, based in Mumbai, while Shyam Barilits-Gupta, who currently serves as chief executive of eOfficePlanet, will continue as part of the eOfficePlanet management team.

 

eOfficePlanet is the second acquisition for Reliance Retail after in bought Adani Retail in December 2006. Last week, the company also announced a 51:49 joint venture with British clothing and food chain Marks & Spencer.