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Retail

Carrefour Teams Up With JIP Retail In Czechia

By Dayeeta Das
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Carrefour Teams Up With JIP Retail In Czechia

Carrefour International Partnership has announced a collaboration with Czech Group JIP Retail as part of an expansion plan.

The partnership will see JIP Retail offering a range of Carrefour-branded products at its stores in Czechia.

"This new partnership with JIP Retail is a great opportunity to provide Czech customers with a powerful and competitive range of products to meet their daily needs. It is an additional milestone in Carrefour Group’s international strategy, with a strong development in Eastern Europe," Patrick Lasfargues, Carrefour International Partnership's executive director, said in a statement.

The move will help JIP Retail add an affordable selection of products to its offering across both food and non-food categories, the retailer said.

The products are expected to roll out across JIP Retail’s convenience network in 2024, the company said.

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"We are very pleased to become a partner of Carrefour International Partnership. [...] Their remarkable range of products will perfectly match with our existing assortment to the delight of our customers," added JIP Retail president, Jan Plsek.

Quarterly Performance

Last month, the French retailer reported weaker third-quarter sales growth than expected, as food price inflation declined and consumers cut back on spending.

Chief executive Alexandre Bompard had warned in August that French consumers were massively cutting their spending on essential goods, and blamed consumer goods firms for not bringing prices down fast enough.

Third-quarter sales came in at €23.63 billion, marking like-for-like growth of 9%, a slowdown from 10.3% growth in the second quarter, but Carrefour stuck to its 2023 targets.

Recently, the company completed the acquisition of all activities of the Cora brand in Romania.

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