PARIS, Sept 9 (Askume) – French multinational retail giant Carrefour (CARR.PA) is entering into a franchise partnership with Dubai Apparel Group to build its presence in India.
Carrefour said on Friday that the partnership will initially target northern India, with further expansion planned across the country, with the first stores expected to open in 2025.
Why is this important?
With a population of around 1.4 billion, India is one of the largest food markets in the world and is attractive due to the growing spending power of consumers.
Key Quotes
“Carrefour’s entry into India is an important step in our franchising strategy to expand to more than 10 new countries by 2026,” said Patrick Lasfarges, Executive Director, International Partnerships, Carrefour.
Nilesh Ved, owner of the apparel group and chairman of Apcorp Holdings, said: “Our goal is clear: to provide the best products at attractive prices to all Indian consumers and make Carrefour their preferred brand to shop from.”
situation
India is grappling with severe food price inflation , which accounts for nearly half of the total consumer price basket, putting pressure on the country’s fast-growing economy.
Carrefour, one of the world’s largest retailers with 14,000 stores in nearly 40 countries, had previously tried to capture the Indian market by partnering with another local retailer but backed out in 2014, saying the market was performing poorly.
