French retailer Carrefour, which operates over 14,000 stores in more than 40 countries, is re-entering India after a decade, in partnership with Dubai-based Apparel Group.
Apparel Group, a leading retail and lifestyle retailer, has entered into a franchise partnership with Carrefour, to launch the French company’s brands in the Indian market.
“This partnership is set to introduce Carrefour’s exclusive brands initially in North India with plans for a nationwide expansion. The first Carrefour locations are planned to open in the NCR Region in 2025,” said a joint statement.
The French multi-brand retailer exited India in 2014 by closing its five cash and carry stores in Delhi, Jaipur, Agra, Meerut and Bangalore.
Carrefour entered India in 2010, when the government permitted foreign retailers such as Walmart and Tesco etc operate in the cash-and-carry format. However, it also included a pre-condition of 30 per cent local sourcing.
Later, Carrefour exited India in 2014 citing a lack of business and its inability to find a partner to expand the company to a multi-brand retail format.
Nilesh Ved, owner of Apparel Group and chairman of AppCorp Holding, said: “In a very dynamic and rapidly changing market for food retail, we plan to open our first Carrefour stores during the summer of 2025. This represents a significant step in strengthening our position in India.”
Patrick Lasfargues, Carrefour’s executive director of international partnership, said, “Thanks to this partnership, we are very happy to launch in India and grow our footprint in one of the fastest-growing economies in the world. We will be expanding with multiple formats across the country to adapt to this dynamic country’s retail landscape.
PTI
