The $130 billion French retail chain Carrefour has set up a 100 per cent-owned arm to enter the wholesale merchandise business in India and will opt for the franchising route to open multi-brand retail stores in the country, senior company officials said Tuesday.
The world’s second-largest retail chain with presence in more than 30 countries, Carrefour intends to open the first cash and carry or wholesale store on its own by the second half of 2009, the officials added.
“Carrefour WC&C India is our 100-per cent subsidiary and will set up the cash and carry business in India. We are planning one or two stores by the second half of 2009 and add more as the business grows,” said Managing Director Herve Clec’h.
“Master Franchise Company, also 100 per cent-owned by Carrefour, will appoint the franchisee for retail trade business. We are talking to five-six Indian groups for this,” Clec’h, who recently took charge of India operations, told IANS.
Carrefour hopes to finalise the Indian franchisee for the multi-brand retailing business, in which no foreign equity is permitted in the country, over the next couple of months, added Gerard Freiszmuth, general manager for Carrefour India.