Carrefour, europe’s largest and world’s second largest retailer with annual revenues in excess of Euro 75 Billion, is in talks with Dubai’s Landmark Group about opening up to 200 stores in India, Landmark Chief Executive Micky Jagtiani said.
Landmark’s India unit, Lifestyle International Pvt. Ltd, is in the early stages of talks about acquiring a Carrefour franchise as economic growth in India spurs retail demand, Jagtiani told Reuters in Dubai on Sunday. They could conclude the discussions as early as November, he said.
“We are in India and food retail is a natural extension for us,” Jagtiani said, declining to say how much the plan may cost. Landmark is also in talks with as many as two other retail companies about developing outlets, Jagtiani said, declining to identify them.