The first store opening is expected in 2025.
French multinational retail giant Carrefour (CARR.PA) is launching a franchise partnership with Dubai-based Apparel Group to establish its presence in India. The initial focus of the partnership will be North India, with plans for further expansion across the country. The first store openings are expected in 2025, as announced by Carrefour.
The significance of this move lies in India’s status as one of the world’s largest food markets, with a population of approximately 1.4 billion and rising consumer spending power. Patrick Lasfargues, the Executive Director of international partnerships at Carrefour, stated that the entry into India is a significant step in their strategy to expand their franchise presence to more than 10 new countries by 2026.
Nilesh Ved, owner of Apparel Group and president of AppCorp Holding, expressed their clear goal of offering high-quality products at attractive prices to Indian customers, aiming to make Carrefour their preferred shopping brand.
India is currently facing severe food price inflation, which constitutes nearly half of the overall consumer price basket and impacts the rapidly growing economy. Carrefour, one of the world’s largest retailers with 14,000 stores across almost 40 countries, had previously attempted to enter the Indian market through a partnership with another local retailer but withdrew in 2014 due to underperformance.
News source: Reuters