Carrefour is reportedly holding talks with an Indian real estate company over setting up hypermarkets in the country.
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The Indian paper Mint cited two people close to the deal as saying that the French-based giant was in the “middle” stages of dialogue with Parsvnath Developers. The newspaper said that this indicated “that India’s fourth largest listed developer is in the running for being selected as a franchisee for the French retail giant.”
Earlier this week, Parsvnath said it plans to venture into the retail business with a chain of hypermarkets that it will set up in partnership with an overseas retailer.
Mint cited an interview it ran earlier this week with Pradeep Jain, Parsvnath’s chairman, that said the company expected an unnamed global retail player it was in talks with to provide expertise in running the retail business and give technical assistance in supply chain and logistics.
As reported on just-food earlier this month, Gerard Freiszmuth, general manager for Carrefour in India has indicated that the company, the world’s second-largest retailer, is to enter the Indian cash-and-carry market with franchised hypermarkets to follow.
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By GlobalDataOne of the French companies units; Carrefour WC & C India, will set up the cash-and-carry stores. A second unit, Carrefour India Master Franchise Co., is to tie up with an Indian company to launch direct-to-consumer stores.
He said the company is talking to “three very willing Indian partners who will bring dimension to the business in a country the size of India. It could be a conglomerate, a developer, a financial institution or even a retailer.”
