Carrefour considers Chinese sale

For fresh fruit and vegetable marketing and distribution in Asia
Matthew Jones

BY MATTHEW JONES

@matt_fruitnet

Carrefour considers Chinese sale

French retailer exploring its options, with public listing a possibility, according to media report

Carrefour considers Chinese sale

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Carrefour could offload its Chinese and Taiwanese operations in an attempt to free up capital for the reorganisation of its European businesses, according to the Wall Street Journal.

With early-stage planning under way, the Journal suggested the sale could be made through a US$1bn public listing in Hong Kong.
Carrefour has refused to comment on the report.

The French retail giant is looking to restructure its European operations after struggling in its home market in recent times.

Carrefour’s reliance on hypermarkets has been pinpointed as a major reason behind the downturn, with time-poor European consumers increasing their reliance on online shopping.

In a bid to correct its course and cut its debt, the company has withdrawn from a number of “non-strategic” markets over the past 24 months.

However, the Journal reported a number of Carrefour’s investors are concerned the company is turning its back on too many developing markets.

Earlier this year Carrefour announced plans to open new stores in 30 Chinese cities.

It currently operates more than 220 stores across 60 Chinese cities.

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