Negotiations are underway on a deal that would see Europe's biggest retail chain Carrefour join forces with Future Group CEO and founder Kishore Biyani to set up franchise stores in India.
India's Future Group is behind the Big Bazaar hypermarket and Food Bazaar supermarket chains in the country, and a deal between the two is expected to be signed by March, India's Economic Times reported.
Big Bazaar's 109 stores contribute 65 per cent of the Future Group's US$2bn revenue, while Food Bazaar has 152 stores.
Although the franchise stores may be dealing with similar products as some of Mr Biyani's existing outlets, they would cater more for affluent, upper middle-income customers who like to shop in luxury.
When the plan is announced, Carrefour would become the fourth big overseas name to enter the US$390bn Indian retail market behind US giant Wal-Mart, UK chain Tesco and Germany's Metro Group.
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