French retail giant Carrefour is reported to be planning an investment of almost €500m (US$604.9m) in three years to improve the market share of its Brazilian operations.

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The investment will begin in 2005, with the opening of around 12 new stores, Reuters reported, citing a French newspaper.


“It is necessary to put the house in order again,” Jean-Marc Pueyo, head of Carrefour Brazil, told Les Echos.


Carrefour has recently lost market share to Brazilian retailer Pao de Acucar, which is part owned by France’s Casino. Other competitors in the Brazilian food retail market include US retail titan Wal-Mart.

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