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Carrefour ends year with just one new store in India

Source : BUSINESS_STANDARD
Last Updated: Mon, Dec 10, 2012 03:59 hrs

pThe euro 81-billion Carrefour retail chain the largest in France and second-largest in the world after Walmart is set to close the year with just one cash-and-carry store opening in IndiappThe group had plans to roll out at least two cash-and-carry or wholesale outlets in the country during the last quarter of this year a company spokesperson had said in July Industry sources indicated that the French chain wanted to open around three stores through the yearppThe group which has three cash-and-carry outlets in the country opened a store in New Delhi its first in India in December 2010 followed by one in Jaipur in late 2011 and the third in Meerut in October 2012br br table cellpadding2 width400 tbody tr styleheight 15pt height20 td styleheight 15pt mso-ignore colspan width372 bgcolorccd7dd colspan4 height20font faceTahoma size2strongRETAIL RACEstrongfonttd tr tr styleheight 15pt height20 td styleheight 15pt width94 bgcolor95acb3 height20font faceTahoma colorffffff size2strongCompanyspan stylemso-spacerun yes spanstrongfonttd td alignright width100 bgcolor95acb3font faceTahoma colorffffff size2strongYear of firstbr store in Indiastrongfonttd td alignright width92 bgcolor95acb3font faceTahoma colorffffff size2strongTotal no ofbr India storesstrongfonttd td alignright width101 bgcolor95acb3span stylemso-spacerun yesfont colorffffffstrongfont faceTahoma size2 fontstrongfontspanfont colorffffffstrongfont faceTahoma size2Opened in 2012fontstrongfonttd tr tr styleheight 15pt height20 td styleheight 15pt width94 bgcolorccd7dd height20font faceTahoma size2Bharti Walmartfonttd td alignright width100 bgcolorccd7ddfont faceTahoma size22009fonttd td alignright width92 bgcolorccd7ddfont faceTahoma size220fonttd td alignright width101 bgcolorccd7ddfont faceTahoma size25fonttd tr tr styleheight 15pt height20 td styleheight 15pt width94 bgcolorccd7dd height20font faceTahoma size2Metrofonttd td alignright width100 bgcolorccd7ddfont faceTahoma size22003fonttd td alignright width92 bgcolorccd7ddfont faceTahoma size214fonttd td alignright width101 bgcolorccd7ddfont faceTahoma size25fonttd tr tr styleheight 15pt height20 td styleheight 15pt width94 bgcolorccd7dd height20font faceTahoma size2Carrefourspan stylemso-spacerun yes spanfonttd td alignright width100 bgcolorccd7ddfont faceTahoma size22010fonttd td alignright width92 bgcolorccd7ddfont faceTahoma size23fonttd td alignright width101 bgcolorccd7ddfont faceTahoma size21fonttd tr tr styleheight 15pt height20 td styleheight 15pt mso-ignore colspan width372 bgcolor95acb3 colspan4 height20emfont faceTahoma colorffffff size1Source Companiesspan stylemso-spacerun yes      spanfontemtd tr tbodytableppCash-and-carry involves selling to businesses educational institutions offices and hotels but not to individuals in the retail marketppCarrefour did not reply to a questionnaire sent by Business Standard on its India rollout plan both in cash-and-carry and front-end multi-brand retail While there is no foreign investment cap for the cash-and-carry format the Cabinet in September permitted up to 51 per cent foreign direct investment in multi-brand retail too Carrefour is yet to announce its Indian partner for multi-brand retail and its country-specific rollout planppIn the midst of a weak economy back home the French chain has had to review many of its overseas businesses this year Recently it decided to sell 60 per cent stake in its Indonesian unit to local partner CT Corp Carrefour also sold its Malaysian unit to Aeon Co There have been reports of it exiting the Singapore market tooppIts Turkish and Polish businesses are also reportedly under review All this is a part of the three-year turnaround plan announced by Carrefour Chief executive Officer Georges Plassat a few months ago aimed at reducing debt and generating cashppIn India the other two international retail chains that operate cash-and-carry businesses have a far larger numbers of outlets in the country American chain Walmart which has a 50-50 joint venture with Bharti Enterprises set up its first store in India in 2009 and now has a total of 20 Bharti Walmart opened five outlets in the country this yearppGermany&rsquos Metro another cash-and-carry major started off in 2003 in India and has 14 outlets in all Like Bharti Walmart Metro too opened five stores in 2012p

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