Rumours about change of course Carrefour in China | RetailDetail

Rumours about change of course Carrefour in China

Rumours about change of course Carrefour in China

French chain Carrefour is rethinking all its activities in China and Taiwan, says the Wall Street Journal. The distributor is either going to bring its activities to the exchange in Hong Kong separately, or go into a partnership with a (local) partner. The operation could make the French company about 1 billion dollar (about 750 million euro) richer.

Take with caution

The news should however be taken with the necessary caution: the business paper says theproject is in a very early stage and Carrefour is not yet working with a business bank.

 

French LSA is also pointing out that the Chinese activities are not officially on display and it says CEO George Plassat said that “major divestments are behind us”. To the question whether they were going to divest more assets, he answered: “Will we remain in the same situation everywhere? That is not certain. But I have no need, nor do I want to, monetize any important assets.”

 

Number 4 in China

According to that same source Carrefour wants to use the money from the operation to speed up its expansion on the Chinese market. Euromonitor's stats show that the French giant only has a market share of 6.9% in the vast country: in 2006 that was 9.1% - a trend CEO Plassat wants to turn around as soon as possible.

 

At the moment Carrefour is the number four in China, with sales of 6.4 billion euro in 2012 (8% of company sales). Market leader, Sun Art Retail Group, is almost twice as big in China, with a market share of 13.6%.

Questions or comments? Please feel free to contact the editors


Isabel Marant opens first Dutch store

24/05/2018

Fashion brand Isabel Marant opened its very first Dutch boutique in Amsterdam. It is located in the P.C. Hooftstraat, in a former McGregor store.

Zara opens new flagship store with holograms and robots

18/05/2018

Zara’s remodeled flagship store in Stratford (London) welcomes customers with holograms, robot arms and iPad-powered employees. The store wants to unite the best of both the online and offline shopping world.

Komono wants to reach 10 physical stores this year

17/05/2018

Belgian accessory label Komono wants to double its number of physical stores to ten this year. “The stores are important to tell our story”, Anton Janssens and Raf Maes told De Standaard.

Hema has to pay Levi's millions

17/05/2018

Store chain Hema needs to pay a 4.4 million euro fine to jeans brand Levi’s after the latter went to court because Hema applied its V-shaped stitching to its own collection.

Suitsupply suffers losses because of expansion

15/05/2018

Dutch Suitsupply has experienced a decent turnover growth last year, but its net result tumbled below zero because of its huge investments. Nevertheless, that is the only way forward according to its founder, whose focus is still fixed on the United States.

Starting this Friday, Belgium has its own national e-commerce event

15/05/2018

Move over, Black Friday! This week, Belgium launches its own national e-commerce event as Jack & Jones, Kiabi, La Redoute, Sarenza, Tape à l'Oeil and Veritas organise the first Belgian Friday.