Carrefour enters India with Apparel Group, opening 50,000-sq-ft flagship hypermarket in Greater Noida

New Delhi: In a major move for India's retail landscape, French hypermarket titan Carrefour has officially arrived in New Delhi, joining forces with Dubai-based lifestyle powerhouse Apparel Group to open a sprawling 50,000-square-foot flagship store at H&S Mall in Greater Noida.

The joint venture marks the beginning of an ambitious nationwide rollout, setting its sights on a booming Indian retail market projected to reach $2.36 trillion by 2030.

To capture the milestone on the ground, Gulf News traveled to Delhi to sit down with Nilesh Ved, Chairman of APPCORP Holding and Owner and Chairman of Apparel Group, for The Hustle podcast.

Ved shared the inspiration behind leading a fashion giant into the world of hypermarkets and grocery retail, pointing to Majid Al Futtaim's iconic Dubai playbook as his inspiration.

"We looked at business models specifically from Dubai... Looked at Majid Al Futtaim in UAE and benchmark/learn from them," Ved said, recalling how MAF successfully paired major shopping malls with hypermarkets like Carrefour.

"We said, you know what? That's a business model we should learn from."

Navigating India’s diverse $4.2 trillion economy and 1.4 billion consumers requires a touch of local intuition, Ved noted, emphasisng that the team plans to adapt the Middle Eastern blueprint rather than forcing a rigid template.

"India is a large market — different languages, different states, different rules... You have to adjust to India, and to do that takes time," he explained.

"Take a playbook from Dubai and adjust it here... We will do what we need to adjust, and we will give the customer what they need."

The enthusiasm is mutual on the French side. Patrick Lasfargues, Executive Director of International Partnerships at Carrefour, celebrated the launch as a "significant milestone," telling Gulf News in a separate interview that this is just the beginning.

"We see India as one of the world's most dynamic consumer markets, underpinned by strong economic fundamentals, a rapidly evolving retail landscape and immense long-term potential. Our partnership with Apparel Group brings Carrefour's global expertise with deep local market knowledge, creating a strong platform for sustainable growth."

Even with the sudden boom of 10-minute quick-commerce apps in urban India, Ved is unwavering in his belief in the magic of physical retail, pointing to enduring global powerhouses like Walmart and Aldi.

For Ved and Apparel Group, staying focused on speed, financial discipline, and bottom-line growth is the secret to bringing this new shopping experience to life across the country.

CATCH THE FULL INTERVIEW ON THE HUSTLE PODCAST SOON

How does a retail mogul transition from being the father of the bride at a massive wedding to opening a mammoth hypermarket just 45 days later? What does Nilesh Ved eat for breakfast to fuel that level of hustle? And what is his true secret to staying profitable in an industry notorious for thin margins?

Tune into the latest episode of The Hustle podcast by Gulf News soon as host Manjusha Radhakrishnan gets personal with Nilesh Ved. They dive deep into his cricket-inspired business mindset, handling human capital, and why this major launch in India is just the beginning.

Watch out for the full episode soon!