Carrefour has reportedly reached an agreement with Future Group that will see India’s largest retailer operate Carrefour-branded franchise stores in the country.
Long-running speculation has persistently linked Carrefour and Future Group after the French retail giant confirmed that it was engaged in ongoing talks with local partners to enter the market.
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According to a report in LiveMint, citing sources familiar with the deal, three months ago, Carrefour and Future Group signed an agreement that would see the companies develop franchised stores.
Future Group will open 150-300 Carrefour-branded hypermarkets in the market over the next five years and the Indian conglomerate will pay Carrefour royalties for the use of the company’s branding, the report claimed.
Future currently operates supermarkets and hypermarkets under the Big Bazaar and Food Bazaar banners.
Click here for the LiveMint report, or check back later for further just-food coverage.
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