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Carrefour to set foot in New Delhi
18
May '10
The country would soon see establishment of wholesale store, Carrefour, as the world's second-largest retail chain plans to set up its first-ever wholesale cash-and-carry store at Seelampur in New Delhi in the next two to three months.

The 55,000 square feet store will source around 90 percent of its products within the country. The brand has started witnessing good orders from suppliers, informed Jean Noel Bironneau, General Manager, Carrefour India, and it is already chalking out plans to open its second store in the near future. Also, the company will sell its products at reasonable prices to suppliers.

India allows 100 percent foreign direct investment (FDI) in the wholesale cash-and-carry trade, wherein the foreign company cannot market its products directly and can only provide these products to other retailers. With its entry into the hypermarket business in the country, through a franchise model, Carrefour was open to the FDI concept and is looking for the correct partner, informed Bironneau.

Carrefour exports around $170 million (Rs 765 crore) worth of textiles and fresh products per year from India to countries in Europe and Asia. The company expects this export figures to increase further in the coming years, added Bironneau.

Fibre2Fashion News Desk - India

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