Carrefour to enter Indian wholesale


MUMBAI, INDIA: Carrefour has turned its attention to wholesaling in India after failing to get local business partners to set up in retail. The French retailer said it would focus on a wholly-owned cash-and-carry model as it did not want to depend on the "whims and fancies" of any Indian partner, according to Indian newspaper The Economic Times. Indian law prohibits 100% ownership of retail chains by foreigners but allows them to own wholesale retail businesses. Carrefour has started to recruit senior managers for its Indian operation, but said it was unlikely to begin trading until the end of next year or early 2009.