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Majid Al Futtaim

The Middle Eastern retailer Majid Al Futtaim/UAE, which is developing the licensed retail chain Carrefour, is considering the possibility of entering the Russian market. The possibility was mentioned in a statement issued by the Government of Tatarstan after a meeting between the Majid Al Futtaim Retail CEO Frank Witek and the Prime Minister of Tatarstan Ildar Khalikov.

“We are represented in 13 countries and now want to gain a foothold in Russia. Tatarstan is located next to Central Asia and is also known as one of the most rapidly growing regions in the RF,” the press service reports.

The statement also conveys that the company has several options for cooperating with Tatarstan in terms of construction and leases. Majid Al Futtaim Retail is considering the possibility of opening its own hypermarket chain in Kazan.

Majid Al Futtaim Retail holds exclusive rights to the Carrefour franchise in the Middle East, North Africa and Central Asia. The company has been developing the Carrefour brand in those regions since 1995 and currently manages 56 hypermarkets and 53 supermarkets across 12 countries.

Carrefour, the second largest retailer in the world, has unsuccessfully tried to enter the Russian market before. The first Carrefour store opened in Moscow in 2009, and the second one followed a few months later in Krasnodar. The company later decided to exit the Russian market, explaining that there was a lack of prospects and opportunities. Moreover, Carrefour considered the possibility of acquiring the hypermarket chain Lenta, as well as investing in the food retailer Sedmoy Kontinent. Both deals did not go through.

In 2014, Carrefour’s revenue amounted to 83 billion EUR. As of December 31, 2014, the company was managing 10,900 stores.
 

12 May 2015
Carrefour plans to return to the Russian market through an Arab partner
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Majid Al Futtaim

UAE

Company's website: www.majidalfuttaim.com/en/page/holding

Private company

Contact: ERIC LEGROS, CEO

Majid Al Futtaim Retail holds exclusive rights to the Carrefour franchise in the Middle East, North Africa and Central Asia. The company has been developing the Carrefour brand in those regions since 1995, currently managing 56 hypermarkets and 53 supermarkets across 12 countries.

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