New Delhi home to first Carrefour cash and carry store
30 Dec 2010
French retailer, Carrefour on Thursday announced the opening of its first cash and carry store in India. The outlet will be based in New Delhi at Parsvnath Developers' Seelampur Metro Mall.
The store, with a sales area of 5200 square metre, will be followed shortly by the opening of other cash and carry stores, the company said in a statement. The foray into the Indian market is in line with the group's strategy to be present in major emerging markets.
''This first step is essential to allow the Carrefour teams to fully understand the specificities of the Indian market and then build our presence in other formats,'' said Lars Olofsson, CEO of Carrefour.
As per Indian regulations, foreign groups are only authorised to develop cash and carry formats solely.
