Carrefour has announced a franchise partnership with Dubai-based Apparel Group to establish its presence in India.
The French multinational retail giant’s partnership will be aimed at North India initially, with further expansions planed across the country.
Carrefour said it expects the first store openings in the region to take place in 2025.
With a population of about 1.4 billion people, India is one of the world’s largest food markets with the additional attraction of rising consumer spending power, which makes the region an attractive target for the retailer.
Patrick Lasfargues, the executive director of international partnerships at Carrefour welcomed the announcement, saying, “The arrival of Carrefour in India marks an important step in our strategy of expanding our franchise in more than 10 new countries by 2026.”
The owner of Apparel Group and president of AppCorp Holding Nilesh Ved added, “Our goal is clear: to offer the best products at very attractive prices to all Indian customers and make Carrefour their favourite brand to shop.”
India is currently grappling with severe food price inflation, which accounts for nearly half of the overall consumer price basket.
This, in turn, is weighing on the country’s fast-growing economy.
Carrefour – one of the world’s largest retailers with 14,000 stores in nearly 40 countries – previously tried to conquer the Indian market through a partnership with another local retailer, but withdrew in 2014, saying the market was underperforming.
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