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French multi-brand retail major Auchan may invest in India
Apr '13
French multi-brand retail major Auchan is presently studying foreign direct investment (FDI) rules laid out by the Indian Government, visiting global chairman of Auchan Group, Mr. Vlanney Mulliez, has said.
After his meeting with Commerce and Industry Minister Anand Sharma, Mr. Mulliez told reporters that Auchan Group is very enthusiastic about the Indian market and they are seeking some advice to cart out the best way for them to further tap the huge potential of Indian market.
Auchan, counted among the world’s largest hypermarket chains, entered India last year through a franchise agreement with Max Hypermarket India Pvt. Ltd., a subsidiary of Dubai-based Landmark Group.
Max Hypermarket has 13 supermarkets in India and the company plans to open 60 more stores under Auchan over the next five years.
The Indian Government currently allows up to 51 percent investment through FDI route in multi-brand retail.
As of 2012, Auchan Group had operations in 12 countries, employing 287,000 people, and generating more than € 60 billion in revenue, excluding taxes for the chains.

Fibre2fashion News Desk - India

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