French retailer Carrefour in partnership talks for India venture: report
19 Feb 2010
France's Carrefour, the world's second largest retailer, is planning to enter cash-and-carry business in India and is currently in talks with some Indian companies, reports quoting sources at the company said.
The reports did not name the Indian companies involved in the negotiations, but cited the probability of Kishore Biyani's Future Group being the likely Indian partner.
Future Group runs Pantaloon Retail, India's largest listed retailer and Biyani had, last week, said his company was in talks with some foreign retailers.
Indian media had also speculated on a tie-up between Pantaloon, the flagship of the Future Group, and Carrefour, to launch franchise stores in India.
Apart from the fashion chain Pantaloon Retail, Future Group manages hypermarket chain Big Bazaar, supermarket chain Food Bazaar as also seamless destination malls called the Central.
The group has a retail network of around 1,000 stores across 71 cities and 65 rural location in India covering more than 200 million people.
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