Spar International’s franchise partnership in India with Landmark Group will end this year, the Dubai-based retail and hospitality operator has told just-food.
Landmark, which has run stores under the Spar banner for five years, said today (14 February) its deal with the symbol retailer “is expiring at the end of 2012”.
Go deeper with GlobalData
The news came weeks after Spar International MD Dr Gordon Campbell said the company was in talks with retailers in India to grow its network in the country.
Reports in India suggested that Spar’s move had not been taken well by Landmark, although the group refused to be drawn on that when contacted by just-food today.
“Our partnership with Spar International has been very fruitful and mutually beneficial. However, this agreement is expiring at the end of 2012. We have aggressive growth plans, and hence are evaluating various options on the way forward,” Landmark director H. Ramanathan said.
Officials at Spar could not be reached for immediate comment.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataReports in Dubai and India yesterday claimed that Landmark was in talks over a possible deal with Auchan, the French retailer.
Arabian Business magazine quoted Landmark CEO Vipen Sethi saying negotiations were “preliminary”, while The Times of India said talks were at an “advanced” stage.
When contacted by just-food, Auchan declined to comment although it admitted it did monitor developments in India.
Ramanathan also refused to be drawn on the reports but said Landmark wanted to expand its operations in India. “We have aggressive growth plans and hence are evaluating various options on the way forward,” he said.
