In a major development, Kishore Biyani-led Future Group is all set to acquire Fu-Com Retail India promoted hypermarket chain Le Marche, reports ET. However, it is not clear whether Le Marche will be a part of Future Group’s value retailing business Big Bazaar or it will be moved under its venture capital arm Future Ventures, the report adds.
Le Marche is an upscale version of a meat shop combined with a grocer. It offers an average of 45,000 product lines including imported foods, fresh baked foods, processed meats and cheeses as well as regular grocery supplies like cooking oil and detergent. Le Marche is currently operational in cities including Mumbai and New Delhi.
Incorporated in August 2005, Fu-Com Retail India was set up by Fu-Com International, a Dubai-based company that operates supermarkets across West Asia in association with the French retail chain Groupe Casino.
— IndiaRetailing Bureau