Carrefour on a store space leasing spree

Carrefour SA, which is close to launching its first cash and carry store in the country at Seelampur in New Delhi, has signed properties in Hyderabad, Chennai, Bangalore and Pune, and is also assessing properties in Mumbai, an industry source said.

These properties will be for opening more of B2B cash and carry outlets under its subsidiary Carrefour WC&C India.

The cash and carry outlets are estimated to be around 60,000 sq ft in size each and will sell to individual customers.

Under the retail foreign direct investment (FDI) norms, 100% FDI is allowed in the wholesale cash and carry business.

Meanwhile, Carrefour has reportedly signed master-franchisee agreement with Kishore Biyani-led Future Group in India for launching Carrefour hypermarket chains.

Last week, Carrefour India’s managing director Jean Noel Bironneau told media the company was interested in opening franchise stores in India.