Dubai: French retail giant Carrefour is launching a franchise partnership with Dubai’s Apparel Group to establish its presence in India, Reuters has reported.
Carrefour said in a statement on Friday that the partnership will initially target North India, with further expansion planned across the country and the first store openings expected in 2025.
Patrick Lasfargues, Executive Director of International Partnerships at Carrefour, said, “The arrival of Carrefour in India marks an important step in our strategy of expanding our franchise in more than ten new countries by 2026."
With a population of about 1.4 billion people, India is one of the world's largest food markets, and rising consumer spending power adds to its appeal.
Meanwhile, Nilesh Ved, Owner of Apparel Group and president of AppCorp Holding, said, “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.”
Carrefour is one of the world's largest retailers, with 14,000 stores in close to 40 countries. Reuters reported that it had previously tried to conquer the Indian market through a partnership with another local retailer but withdrew in 2014, saying the market was underperforming.
