French retailer Carrefour has announced that it has teamed up with Retail & More, a subsidiary of TeleUnicom, to relaunch the brand in Greece.
The partnership will see Carrefour opening stores in Greece after around ten years.
The first stores are expected to open in Crete before the summer of 2022.
Commenting on the move, Patrick Lasfargues, executive director of Carrefour International Partnerships, said, “The Carrefour brand and products are well known to Greek customers and we are very excited to bring them the best of Carrefour.
“TeleUnicom will provide us with the best platform to enter this market quickly and efficiently. By moving into Greece in 2022, Carrefour Partenariat International is maintaining its strong development momentum in new geographies.”
Vasilis Stasinoulias, CEO of Retail & More, added that move will allow Greek consumers to experience “Carrefour's omnichannel ecosystem that offers quality products and services accessible to all.”
Vasilis Papadopoulos, CEO of TeleUnicom, stated, "We decided to create a new business unit for food retailing because there was a strong demand to welcome Carrefour in Greece.
"All our discussions with Carrefour Partenariat International confirmed our strategic choices and our ambition for the Carrefour Market and Express brands."
Carrefour In Greece
Carrefour teamed up with the Greek retailer retail group Marinopolous in 1999 to form Carrefour Marinopoulos under a 50-50 joint venture, according to a report in the publication Greek Reporter.
In 2012, the French retail group wrapped up business in Greece after selling its stake in the partnership as its market share fell amid the economic crisis in the country.
In 2016, Marinopolous Group filed for bankruptcy after it accrued debts worth hundreds of millions of euros to suppliers.
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© 2022 European Supermarket Magazine. Article by Dayeeta Das. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.