The announcement of the Indian partner of French retailer Carrefour, which was expected during the ongoing visit of French President Nicholas Sarkozy, has been put on hold for some time. The chairman of the world’s second largest retailer Jose Luis Duran is a member of the high powered business delegation accompanying the president.
“As the visit of the French president is very short, it was decided to keep on hold the decision to announce the Indian partner of the French retailer,” company official told Indiaretailing.
Though the plan was to announce the Indian partner of the French retailer during the ongoing visit, but due to heavy pressing engagements of the French leader and his delegation, it was not possible to go ahead with this exercise, the spokesman said.
“In fact it would have given a further boost to the company in India since the Chairman of the company is member of the high powered business delegation accompanying the French president,” the spokesman said.
The French company has shortlisted three Indian companies and was expected to announce its partner this month to launch its first joint venture hypermarkets in the country.
Though the name of the final partner is still under wraps, the spokesman said the French retailer has formed two companies, Carefour India and Carefour WC and C (wholesale cash-and-carry), which will oversee operations in India with its joint
Top executives of the company have been visiting India and been engaged in talks with a large cross-section of Indian counterparts to select a partner.
– Sri Krishna