France's Carrefour sets sights on India
French retail giant Carrefour expects to soon find a partner in India to open up its first superstores in the growing Asian market, the company's director said Tuesday.
Carrefour is planning to enter the Indian market this summer by setting up a wholesale business but it has yet to find a partner that would allow it to open up stores under its brand.
"We have been in discussion for the past months with various groups and I believe that in a few months we will be able to identify that group that will be our partner," Lars Olofsson told shareholders at the annual meeting.
"India is certainly a major consumer market where Carrefour could develop an interesting share," said Olofsson.
The world's second largest retailer after Wal-Mart, Carrefour is already present in China, Indonesia, Malaysia and several other Asian countries.
© 2010 AFP