French multinational retail giant Carrefour is launching a franchise partnership with Dubai-based Apparel Group to establish its presence in India.
The partnership will be aimed at North India initially, with further expansion planned across the country and the first store openings expected in 2025, Carrefour said on Friday.
With a population of about 1.4 billion people, India is one of the world's largest food markets with the additional attraction of rising consumer spending power. Patrick Lasfargues, Executive Director of International Partnerships at Carrefour, said, "The arrival of Carrefour in India marks an important step in our strategy of expanding our franchise in more than 10 new countries by 2026." Nilesh Ved, owner of Apparel Group and President of AppCorp Holding, said.
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