Carrefour to open stores by 2009

MUMBAI: Carrefour on Tuesday said it will enter India’s $330 billion retail market through the franchise route by 2009, for which it is talking to three potential local partners.

DNA Money, in a report on September 30, 2007, said the French retailer  plans to enter the country through the wholesale cash-and-carry route. Carrefour, which has already made a soft launch of its cash and carry business, will keep its identity separate from the retail venture to conform with Indian laws.

“We have incorporated two companies — Carrefour WC&C India Pvt Ltd for our wholesale cash and carry, and Carrefour Master Franchise Company Pvt Ltd for the retail business,” Carrefour Group (India) MD Herve Clec’h said.

He said an agreement with the Indian partner for the franchise retail venture is expected to be signed in the second quarter of 2008 and the first store to be opened by 2009 —by when its cash and carry business will also attain full steam.

“Initially, we were talking to five Indian potential partners and now have zeroed in on three parties — a conglomerate, a retailer and a financial institution —  from which we will choose one,” Carrefour India Project general manager Gerard Freiszmuth said without naming them.