The partnership will be aimed at North India initially, with further expansion planned across the country
French multinational retail giant Carrefour is launching a franchise partnership with Dubai-based Apparel Group to establish its presence in India.
The partnership will be aimed at North India initially, with further expansion planned across the country and the first store openings expected in 2025, Carrefour said in a statement.
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.
“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,” said Patrick Lasfargues, executive director of international partnerships at Carrefour.
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.
India is grappling with severe food price inflation, which accounts for nearly half of the overall consumer price basket and weighs on the country’s fast-growing economy.
Carrefour, one of the world’s largest retailers with 14,000 stores in close to 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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