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Jan, 01 2007

Wadias' retail foray set to take off with Carrefour tie-up

It could be the next high profile alliance in the Indian retail space. The world's second largest retailer Carrefour is close to tying up with the Nusli Wadia group to set up its operations in the country.

The Wadia group has interests in a range of industries from textiles to aviation. The development comes on the heels of Sunil Mittal's Bharti Enterprises preferring US-based Wal-Mart over Tesco for its retail venture. Carrefour, like many foreign retailers, has been looking to enter India for some time. It was earlier in talks with Dubai-based Landmark group, owners of Lifestyle departmental stores, and even Bharti Enterprises.

A source in the Wadia camp confirmed that Carrefour has approached the group for a retail initiative. However, what structure the arrangement will finally take could not be ascertained. The group's flagship company Bombay Dyeing & Manufacturing Company already has a presence in home furnishing and apparel retail.

Europe's leading retailer $74 billion Carrefour operates more than 11,000 hypermarkets, supermarkets, hard discount and convenience stores in 30 countries and has 430,000 employees. Carrefour already has a sourcing office in New Delhi, which it uses to procure textiles and garments worth $300-400 million from India for its global operations.

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