Carrefour has hired KPMG for selling its Indian assets, according to a leading daily. If the French retailer exits India, this will be the sixth market where it will put an end to its operations as in the last two years, Carrefour has withdrawn its presence from five markets (Including Malaysia, Indonesia, Greece, Singapore, and Columbia) failing to lead the market and gain a prominent market share.
According to the media report, Carrefour started pulling out of the country after not being able to partner or sell its operations to Bharti Enterprises.
The newspaper also pointed out that the retailer’s stores in Delhi and Bangalore malls are on long-term lease basis. Apart from that, the French retailer also build its own hypermarkets in Jaipur, Agra, and Meerut.
It also said that Carrefour had not made significant investments in supply chain in the country as the goods were directly supplied to cash-and-carry stores by distributors and companies.
