Carrefour news and archive

Amnesty says migrant workers exploited at Carrefour Saudi stores

Rights group Amnesty International published Monday a report that accused the Saudi Arabian franchise of French supermarket giant Carrefour of exploiting migrant workers. Carrefour told AFP that an internal probe had not confirmed most allegations but was planning on conducting an external review. Amnesty said it found migrant workers for...

Business

Tesco and Carrefour announce long-term strategic alliance

Tesco Group Plc and Carrefour have jointly announced that both plan to enter into a long-term, strategic alliance covering the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. The companies said in a joint-statement that it will be governed by a three-year operational framework....

Fashion

Boiler explosion in Bangladesh textile factory leaves 10 dead and up to 50 injured

Ten people have died as a result of a boiler explosion in a textile factory in Bangladesh. The factory, which is owned by textile manufacturers Multifabs supplies knitted apparel to clients in Europe, including Littlewood, based in the UK. Factory director, Mesba Faruqui told AFP that the site was closed on Monday with the majority of employees...

Apparel

Carrefour brings KPMG on board to sell India assets

French retailer Carrefour seems to have given up on pursuing India plans. The company is said to have hired KPMG to find those interested in buying its India assets. The world's second largest retailer had, earlier refuted speculations surrounding its exit from the country. Source say that the move has not come because of BJP-led government’s...

Apparel

Carrefour India MD refutes exit rumours

With speculations of French major Carrefour preparing to exit India doing the rounds, Carrefour India’s Managing Director Jean Noel Bironneau has refuted the media reports. Speaking to employees, he asked them to ignore rumours and continue work as usual. The retailer is worried about possible changes in the multi-brand FDI policy if the BJP...

Apparel

Carrefour's talks with Bharti fail, company to exit India

With no hope for the FDI in multi-brand retail segment in India and top level executives quitting the company, French retail major, Carrefour, the world's second largest retailer, is said to be preparing to exit India. The company was in talks with Bharti Group, after the latter broke its joint venture partnership with American retail giant...

Apparel

Carrefour may firm up India plans soon

The world's second-largest retailer, the 76-billion euros (6,46,930 crores) Carrefour, is planning to firm up its India entry plans in the multi-brand retail segment. Chairman and CEO, Georges Plassat is expected to be in the country soon. Sources speculate that his visit may culminate into a business deal. The buzz is that the retail major is...

Apparel

Biyani refutes tie-up talks with global retail giant

After Tesco applied for multi-brand retail FDI, speculations were rife that French retail giant Carrefour would be the next applicant and Future Retail could be the possible partner since both were in talks for partnership in the past. However, as per recent media reports, Future Group managing director, Kishore Biyani has refuted any such tie...

Apparel

Carrefour revives talks with Future Group for India entry

After Tesco made a multi-brand FDI proposal with its current local partner Tata to enter India, world's second-largest retailer Carrefour, has revived its talks with Kishore Biyani-led Future Group as a part of its plans to enter India. Three years ago, Carrefour was almost in the final stages of its negotiations with the Future Group, when it...

Apparel

Meeting on FDI fails to reach conclusive decision

The meeting between Anand Sharma, Minister for Commerce and Industry and stakeholders in the retail space held last week, failed to reach a conclusive concrete decision or provide any clarity on key issues relating FDI and back-end infrastructure and sourcing from the micro, small and medium enterprises (MSME) sector. Although most issues came...

Apparel

Relaxations to MSME may benefit global retailers

Global multi-brand retail companies including Wal-Mart and Tesco may find it easier to meet the mandatory local sourcing norms for investing in India owing to the relaxations for micro, small & medium enterprises (MSME) introduced in the Union Budget. The Budget has proposed that the non-tax benefits or preferences enjoyed by MSMEs – units with...

Apparel

FDI in multi-brand retail gains momentum

The government is planning to work towards getting a nod from all parties on 51 per cent FDI in multi-brand retail after the presidential polls this month. This would be the first step towards bringing in reforms and also a positive indication to global investors. Earlier, keeping all the resistance from the opposition and other political...