Carrefour set to form a deal with Pantaloon Retail
Carrefour, Europe’s biggest retail chain, is about to close a deal with Kishore Biyani of Pantaloon Retail to set up franchise stores in India.
January 20, 2010 | comments ( 0 ) |
Carrefour, Europe’s biggest retail chain, is about to close a deal with Kishore Biyani of Pantaloon Retail to set up franchise stores in India. The Paris-based retailer, which is seeing revenues in the native country falling due to tightening of spending by consumers, is expected to close the deal by March 2010. The Carrefour franchise stores will be aimed at affluent customers.
By establishing the deal Carrefour will follow the footsteps of Wal-Mart and the UK’s Tesco to enter the $390-billion Indian retail market.
The Carrefour franchise is likely to be a part of Future Value Retail, a 100 per cent unit of Pantaloon Retail, which owns hypermarket chains Big Bazaar and Food Bazaar. Carrefour has two entities in India—Carrefour WC & C India and Carrefour India Master Franchise Company.
- Future Consumer signs MoU with T Choithrams & Sons
- Apparel brand Turms raises Rs 2 crore in fresh funding
- Luxury brand ShazĂ© plans to launch up to 10 new stores in 2019
- Patanjali eyes opening 100 Paridhan stores in the next one year
- Puma hires boxing champion Mary Kom as brand ambassador
- Epic Group to make $20 million investment in India
- Simon Carter to launch 3 new Indian franchise stores
- Titan Eyeplus open 3 new stores in Coimbatore
- V-Mart eyes tier 3 & 4 cities for expansion
- 7-Eleven eyes entering India with Future Group