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Carrefour On Walmart's Heels
Carrefour, the world's second largest retailer, is in talks to enter India's $330 billion retail market.
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Carrefour, the world’s second largest retailer, is in talks to enter India’s $330 billion retail market through a franchise arrangement, with plans to open its first store in 2009.
The company is reportedly in discussion with three potential Indian partners as the country does not allow Foreign Direct Investment (FDI) in retail presently. Foreign multi-brand retailers can enter the market through Indian franchisees, which WalMart is doing with Bharti Enterprises. The France-based Carrefour has global sales of $140 billion and employs 450,000 worldwide. |
