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Through its partnership with the Dubai Majid Al Futtaim Group, Carrefour is going to enter the Uzbek market next year and open (at least) seven stores there in the coming years.
Growing market
Over the next two years, Carrefour plans to open seven stores in the Uzbek capital Tashkent: three supermarkets and a hypermarket in 2020, followed by two other supermarkets and a hypermarket in 2021. The stores will create 2500 direct and indirect jobs and benefit more than 600 local suppliers, producers and farmers. Uzbekistan’s food market is growing rapidly and in Tashkent alone, it should be worth about 5 billion dollars (4.5 billion euros) by 2023.
“We are delighted to be bringing our stores and products to Uzbekistan via our long-standing partnership with the Majid Al Futtaim Group. With our support, our partner is implementing an active strategy to grow Carrefour’s network in countries where it is well established, as well as in new areas where its expertise will help it quickly establish itself as market leader”, Patrick Lasfargues, Executive Director of International Partnerships, explains.
Carrefour and the Majid Al Futtaim Group have been partners since 1995. Together, they operate 285 hypermarkets and supermarkets in fourteen countries in Africa and Asia. Until six years ago, Carrefour was also a shareholder in the retail branch of the group from Dubai, which continues to cooperate with Tesco, among others.
