French retail giant Carrefour has remained silent on reports that it is in talks with India’s largest retailer, Pantaloon, to set up a joint venture in the country.


Rules on foreign direct investment in India prohibit foreign companies from owning multi-brand retail outlets, forcing international conglomerates to forge partnerships with local retailers.


According to a report in India’s Business Standard, Carrefour is preparing to take a stake in Future Fashion Merchandise, a Pantaloon subsidy created following the restructuring of its retail operations.


However, Carrefour has remained tight-lipped on the issue.


“Carrefour and some Indian companies have been discussing partnerships but we do not want to comment on any of the companies we have been talking to,” a spokesperson for the group told just-food.  
 
“Carrefour will develop its activities in India with the start of cash and carry activities at the end of 2009 or beginning of 2010,” the spokesperson added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Meanwhile, a spokesperson for Pantaloon said that there was “nothing to discuss on the subject of Carrefour” as the company does not comment on “speculative issues”.