French retail giant Carrefour today announced its entry into the Indian market by opening its first cash and carry store for wholesale distribution.
The new store -- Carrefour Wholesale Cash&Carry -- in New Delhi will house over 10,000 stock keeping units and cater to professional businesses, institutions, restaurants and local retailers.
"The opening of this first store marks Carrefour's entry into the Indian market and will be followed shortly by the opening of other cash and carry stores," Carrefour, CEO, Lars Olofsson said in a statement.
He said opening of the first store was essential to allow the Carrefour teams to fully understand the specificities of the Indian market and further build the company's presence in other formats.
According to the statement, the development is in line with the group's strategy to be present in major emerging markets that offer significant expansion and medium and long- term growth opportunities.
Spread across 5,200 square meter, the store is located at Seelampur Metro Mall developed by Parsvnath Developers.