Emerging markets are more than a lucrative business opportunity for retailers in developed markets today. Retailers today see emerging markets as an irresistible opportunity to go global. Opportunities and growth rate of emerging economies provide a perfect platform for modern and traditional retailers to grow and expand their business. These markets are viewed as a fuel which will drive a retailer's growth. But historical data suggests that there are more failure stories known to us than success stories. In this chapter, we are going to understand and analyse what the successful retailers have done right and why is it that when retailers try to expand into emerging markets, fail. © Springer Nature Singapore Pte Ltd. 2018. All rights reserved.