πŸ’° Carrefour to exit India, still in talks to sell stores

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French retail giant Carrefour SA will shut down its Indian operations and close its wholesale stores in the country, as it exits underperforming.


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NEW DELHI: Carrefour, which on late Monday announced its much-anticipated exit from India, has decided to shut its five wholesale stores.


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Carrefour SA, the world's second-largest retailer, has said it is exiting India by closing its all five cash & carry or wholesale stores in the country.


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NEW DELHI: Carrefour, which on late Monday announced its much-anticipated exit from India, has decided to shut its five wholesale stores.


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Carrefour enters South India. By Shri Dada Gujar | Vjmedia Works | December 19​, French retailer's cash-&-carry store in Bangalore to take on Metro.


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Carrefour to exit India, still in talks to sell stores

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On Monday, Carrefour decided to close its five cash-and-carry stores in India effective September without spelling out any clear reasons.


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As France’s Carrefour pulls out, what next for India’s retail market?

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Prior to September , India's foreign direct investment (FDI) policy did not allow foreign companies to open multi-brand retail stores in the.


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Findings – Carrefour needed time to tie up with an Indian partner to start retail operations in India. The company also delayed its retail plans to.


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Business News. N last year called off its Indian partnership and shelved a plan to open retail stores. Carrefour, under Chief Executive Georges Plassat, has in the past said it will sell non-core assets to raise cash to defend key markets in western Europe, China and Brazil. The logo of Carrefour is pictured during the company's annual results presentation in Paris March 5, {/INSERTKEYS}{/PARAGRAPH} A Carrefour spokesperson declined to give any further details. L has so far announced plans to set up stores in India. Directory of sites. Discover Thomson Reuters. United States. The supermarket operator has exited markets like Greece, Colombia, Singapore and Malaysia among others in the past few years. {PARAGRAPH}{INSERTKEYS}PA will shut down its Indian operations and close its wholesale stores in the country, as it exits underperforming markets to focus on reviving its French business. Wal-Mart is now focusing on opening wholesale stores in the country and recently launched an e-commerce venture in India. Carrefour has been in talks with Indian retail companies and strategic investors about its Indian assets in recent months, after flagging in March that it was considering the future of the business. The new Indian government under Narendra Modi, elected in May, has also opposed foreign investment in the supermarket sector, fearing it will hurt small shopkeepers.