Carrefour partners with Future Group

Europe’s biggest retailer Carrefour SA has signed a collaboration deal with Future Group, which runs India’s largest store chain. According to sources familiar with the development, the deal was signed three months ago.

Future Group is looking to open between 150 and 300 Carrefour-branded hypermarkets in the next five years. The Indian retailer, which runs Pantaloon and the Big Bazaar chains, will pay the French retailer a royalty for using the brand.

Indian rules allow foreign multi-brand retailers to operate in the country only through franchise agreements with local firms.

Carrefour has been scouting for a partner for several years -- it has previously held talks with Bharti Enterprises Ltd, which teamed up with Wal-Mart Stores Inc., Wadia Group, and real estate firms DLF Ltd and MGF Ltd, among others.