After ending ties with Dutch retailer Spar International in May this year, Max Hypermarket, part of the Dubai-based Landmark group, on Monday announced it had signed a franchise agreement with French retailer Auchan Group to develop hypermarkets in the country.
The existing stores of Max Hypermarket would be rebranded Auchan, in the fourth quarter of 2012 and shall operate under the franchise agreement.
Max Hypermarkets and Auchan plan to open 12-15 new stores in a year across various regions in the country. “The franchise partnership is aimed at reinforcing the business objectives of both organisations in providing customers with best of value, choice and experience,” both the companies said in a statement.
The Auchan Group is the world’s 12th largest food retailer. It operates in 13 countries and employs 260,000 employees. It is structured into five core businesses: Hypermarkets, supermarkets, retail real estate (Immochan), banking (Banque Accord) and e-commerce. In 2011, Auchan Group reached a turnover of euro 44.4 billion, with 55 per cent coming from outside France.
Max Hypermarket is a part of Landmark group, which runs departmental stores under the brand Lifestyle, value fashion format Max among others.
