French retail giant Carrefour is making a comeback in India through a franchise partnership with Dubai-based Apparel Group. The initial focus will be on North India, but the company plans to expand its presence across the country, as per Reuters. The first Carrefour stores are expected to open in 2025.
India, with its vast population and rising consumer spending power, presents a significant opportunity for Carrefour. Patrick Lasfargues, executive director of international partnerships at Carrefour, expressed the importance of India in their global expansion strategy, aiming to enter ten new countries by 2026.
Nilesh Ved, owner of Apparel Group and president of AppCorp Holding, emphasized the goal of providing Indian customers with high-quality products at competitive prices, aiming to make Carrefour their preferred shopping destination.
The entry of Carrefour comes at a time when India is grappling with severe food price inflation. This inflationary pressure, accounting for nearly half of the overall consumer price basket, is impacting the country’s fast-growing economy.
Carrefour, a leading global retailer with over 14,000 stores in 40 countries, previously attempted to enter the Indian market but withdrew in 2014 due to underperformance. This new partnership represents a renewed effort to establish a strong presence in the Indian market.