The French group plans to keep up the pace of its investments in the largest country of Latin America.
In 2016, The French retail group Carrefour invested 500 million euros in Brazil and Argentina, with the former receiving most of the resources. On March 25th 2017, the company’s Brazilian CEO, Charles Desmartis, announced that the French supermarket will keep up the pace of its investments in the country.
“The strategy consists of investing in the expansion of two different formats, wholesales and minimarkets, with Carrefour Express” claimed Charles.
Brazil is currently the second largest market for the company, with 16% of its global revenue, which reached 77 billion euros in 2016. France is the biggest market.
Last year, Carrefour hit the milestone of opening its 70th Carrefour Express store in Brazil, on top of 103 hypermarkets, 40 supermarkets and 157 wholesale units. In January and February of 2017, the group opened five more Carrefour Express stores.
“The group is betting on Brazil, despite the problems of the country. We are optimistic about the performance of the Brazilian consumption of goods in the coming years,” stated Demartis. Moreover, the CEO said that Carrefour is planning to start selling food digitally, but there is no estimate of when the service will be available or how its logistics will work.
Regarding the process of Carrefour Brasil going public, the CEO claims that it is still a work in progress. There have been since the French company announced its intention on September 4th 2016, to go public in the first semester of 2017, with the value ranging from 3 to 4 billion Reais