Subscribe to ESM button
31st October

Carrefour Continues Exit Strategy With Indonesian Departure

Carrefour is set to exit Indonesia, having agreed to sell its 60CarIper cent stake in Carrefour Indonesia to local partner CT Corp for €525 million. The move is the latest in the France-based group's streamlining of its international operations, in a strategy to focus on its markets where it has a "strong position."

Carrefour first entered Indonesia in 1998, and is the third-largest retailer there, with net sales of €1 billion in 2011. CT Corp, already a 40 per cent stakeholder in Carrefour's Indonesian operation, will now have full control of Carrefour Indonesia’s 85 stores and will continue to operate the use the Carrefour brand in the country. The Indonesian transaction will take place in January 2013, subject to the approval of the Indonesian anti-trust authorities.

The retreat from Indonesia will be the French retailer’s fifth exit under CEO Georges Plassat’s strategy of focusing on its core operations. The second-largest retailer in the world exited Colombia and Greece earlier this year and sold its Malaysian operations last month to Aeon, Japan's leading supermarket retailer. It has also announced the closure of its two stores in Singapore before the end of the year. Meanwhile, Carrefour Romania has opened its 13th Carrefour Express store
this week. (21 Nov)

© 2012 - ESM: European Supermarket Magazine

More Articles from Retail

Wal-Mart to Cut Prices on 20,000 Items to Spur Holiday SalesWal-Mart to Cut Prices on 20,000 Items to Spur Holiday Sales

Wal-Mart Stores Inc., working to reverse six straight quarters of stagnant US sales, will cut prices on more than 20,000 items tomorrow to get a jump  [ ... ]

99p Stores Reports Profit Growth99p Stores Reports Profit Growth

British retail group 99p Stores has reported profit growth as an improvement in buying-in margins and controlling costs helped to being about the posi [ ... ]

British Shoppers To Spend £2.3bn More This Christmas - Verdict Research British Shoppers To Spend £2.3bn More This Christmas - Verdict Research

British consumers will spend £2.3bn more in the upcoming festive season than in 2013, according to new data from Verdict Retail. The improving UK ec [ ... ]

Slovak Supermarkets Fail Food Quality TestsSlovak Supermarkets Fail Food Quality Tests

Some 60 per cent of recent inspections carried out in Slovak supermarkets after working hours showed deficiencies, a state administration authority sa [ ... ]