Despite very bad results for year 2008, the french ‘s giant retail company carrefour announce the creation of 28 new market in China for 2009.Carrefour has already launch a profit warning for year 2009, explaining that this exercice won’t be better than the 2008 because of the global economy slowdown. Carrefour is also afraid that Tesco, the third global retailer which is better implant in BRIC area take the lead on Carrefour.
During 2008, carrefour opened 22 hypermarket in China, we can assist to an increase of power of the french implantation on chinese soil.
Despite a strong economy slowdonw, carrefour which is badly affected by the crisis continue to invest on the most profitable market and in the same time restructur his activities in Europe where hypermarket attract less and less customers in profit of small local retail center.
Are chinese investment going to save carrefour’s world second place ? Carrefour is facing a lack of influence in India, country whithout which it can’t pretend to be such a world leader.
Tesco has strong chances to win this battle.
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