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On Tuesday, Carrefour launched in Israel, as the first foreign supermarket chain in the country. The retailer promises lower food prices there: after all, they are among the highest in the world in Israel.
“Good news for citizens”
Three hypermarkets, 10 supermarkets, 37 convenience stores and a webshop, Carrefour opened in Israel on Tuesday. The French retailer partnered for the expansion with Israeli group Electra Consumer Products and subsidiary Yenot Bitan, a local food retailer that operates the supermarkets under franchise. The group has already invested 250 million shekel (about 62.6 million euro) for the first 50 shops in and around Tel Aviv. By the end of this year, they want to boost the number of shops to between eighty and one hundred.
Carrefour wants to offer kosher products at affordable prices in Israel. Indeed, according to a ranking in The Economist, Tel Aviv was the most expensive city in the world in 2021, ahead of Paris, Hong Kong or New York. Carrefour CEO Alexandre Bompard wants to “contribute in this way to the fight against pressure on purchasing power”. Israeli Prime Minister Benjamin Netanyahu is also enthusiastic and considers Carrefour’s arrival “good news for the citizens of Israel”.
Israel is the 43rd country in which Carrefour operates. In 34 of those countries, the food retailer works with local franchise partners.
