French retailer Carrefour, which has shortlisted three Indian companies, is expected to announce its partner in January 2008 and launch its first joint venture hypermarkets in India around mid-2009.
“Carrefour has held discussions with a large number of retailers in India over the past year and has now shortlisted three of them. The final partner will be announced in January,” a spokesperson told Indiaretailing.
Though the name of the final partner is still under wraps, the spokesman said the French retailer has formed two companies, Carefour India and Carefour WC and C (wholesale cash-and-carry), which will oversee operations in India with its joint venture partner.
Top executives of the company have been visiting India and been engaged in talks with a large cross-section of Indian counterparts to select a partner.
Asked about the plans for the hypermarkets, the spokesperson said, “These would be between 4,000 and 10,000 square metres. Of course, the location of these hypermarkets and other details would be worked out once the company finalises who its partner would be in this country.”
As the spokesman said, “Since India is a growing market and retail is catching up in a big way, it is felt that Carrefour would be able to give value to its customers in this country.”
– Sri Krishna
