Carrefour will begin its expected assault on the Indian market next year through a two-pronged attack that will see the world's second-biggest retailer open both retail stores and wholesale outlets there.
In an interview with the Financial Times last week, José Luis Duran, Carrefour's chief executive, said he was poised to sign a retail joint venture in India.
The retailer had been linked to Bharti Enterprises, which signed up with Wal-Mart last year, as well as Landmark of Dubai.
"Negotiations are well on track," Mr Duran said. "We are talking to two or three different candidates . . . and if we are optimistic, we should be able to sign a joint venture in the coming months - at the latest in the first quarter of 2008."
He also confirmed Carrefour was following Germany-based Metro Group into the Indian wholesale cash-and-carry market. "There are two strategies in parallel, based on cash-and-carry and hypermarkets. We are starting from now to build up the [cash-and-carry side]. To be realistic, the first cash-and-carry stores should open in 2009. We are working on [three or four stores] in Mumbai and Delhi."
Mr Duran had announced last week that he was planning a big shake-up of the French business that could see 1,000 Champion stores rebranded as Carrefour Market over the next three years. He told investors that he didn't know of many alternatives in order to secure a big like-for-like
He has said he would take his final decision early next year, but seems committed to the rebranding as part of his bigger aim to turn the grocer's 20-plus banners around the world into Carrefour-branded businesses.
"Today the only player who doesn't have a single brand strategy in France is Carrefour," Mr Duran said. He added that he is planning a similar shake-up of his 7bn ($10.4bn) business in Italy, which is struggling on the back of poor performance in the south.
Carrefour will rebrand 1,000 convenience stores GS Express, to echo the popular GS supermarket brand. He could also sell off some of the hypermarkets. Out of 60 stores, he has 10-15 "which destroy value every day. Italy is a question of what do we do with this black spot?"
On Esselunga, the Italian supermarket chain on the block, Mr Duran said he loved the brand, but was "never going to pay the price Caprott [the owner] wants for it".
He also said he was still in talks about Koc Holding's sale of its majority stake in Migros, Turkey's leading chain, but insisted he would not overpay. Mr Duran said Koc was pushing for an agreement by the end of the year, but did not think a deal would be agreed before early next year at best.
