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Carrefour continues to analyze Armenian market to open its store in
the next 12 months - bne
http://www.tert.am/en/news/2013/02/14/bne-carrefour-open/
18:32 - 14.02.13
The Armenian government says it's set to help Carrefour resolve a
dispute that has delayed the French hypermarket giant's entrance to
the country, in a bid to prevent the country's investment climate
being harmed further by the affair, bne (Business New Europe) writes
referring to the opening of French Carrefour in Armenia.
As the first international supermarket chain to try to crack the
Armenian market, Carrefour is running up against the power of local
oligarchs who want to keep control of the lucrative food retail
market, say reports. However, Armenian Prime Minister Tigran Sargsyan
has come out in favour of the French retailer, which could pave the
way for Carrefour to open its first store in Yerevan this year, bne
writes.
On February 7, Sargsyan told journalists that, "Carrefour must be
opened in Armenia for sure. I had a meeting with Carrefour
representatives, and we discussed all the issues related to the
entrance of the network to Armenia and its normal operation here.
Armenia is quite interested in providing people with Carrefour's
services," Sargsyan told journalists.
Carrefour's arrival is expected to boost competition, raise demand for
agricultural products and help create new infrastructure, Sargsyan
said.
Carrefour's arrival in Armenia has been anticipated for more than a
year, and the first store was expected to open in late October 2012 -
a month after Majid Al Futtaim Holding, the operator of the Carrefour
brand in the Middle East and Central Asia, launched the first
Carrefour in neighbouring Georgia. Carrefour executives have
reportedly been trying for several months to meet with top government
officials in an attempt to break the impasse.
In an emailed statement, Carrefour's press office told bne that, "in
line with its strategy of developing the Carrefour brand, the Majid Al
Futtaim group continues to analyze the Armenian market and aims to
open its first store in the next 12 months."
The article says Armenia's small retail sector is relatively
underdeveloped, and still populated by local players, among them Star,
SAS, Galaxy and Yerevan City - all of which have emerged in the last
decade. The supermarket and grocery chains have gradually replaced
open-air bazaars and street vendors, as Armenia, like other
post-Soviet countries, makes its transition to a formal retail sector.
the next 12 months - bne
http://www.tert.am/en/news/2013/02/14/bne-carrefour-open/
18:32 - 14.02.13
The Armenian government says it's set to help Carrefour resolve a
dispute that has delayed the French hypermarket giant's entrance to
the country, in a bid to prevent the country's investment climate
being harmed further by the affair, bne (Business New Europe) writes
referring to the opening of French Carrefour in Armenia.
As the first international supermarket chain to try to crack the
Armenian market, Carrefour is running up against the power of local
oligarchs who want to keep control of the lucrative food retail
market, say reports. However, Armenian Prime Minister Tigran Sargsyan
has come out in favour of the French retailer, which could pave the
way for Carrefour to open its first store in Yerevan this year, bne
writes.
On February 7, Sargsyan told journalists that, "Carrefour must be
opened in Armenia for sure. I had a meeting with Carrefour
representatives, and we discussed all the issues related to the
entrance of the network to Armenia and its normal operation here.
Armenia is quite interested in providing people with Carrefour's
services," Sargsyan told journalists.
Carrefour's arrival is expected to boost competition, raise demand for
agricultural products and help create new infrastructure, Sargsyan
said.
Carrefour's arrival in Armenia has been anticipated for more than a
year, and the first store was expected to open in late October 2012 -
a month after Majid Al Futtaim Holding, the operator of the Carrefour
brand in the Middle East and Central Asia, launched the first
Carrefour in neighbouring Georgia. Carrefour executives have
reportedly been trying for several months to meet with top government
officials in an attempt to break the impasse.
In an emailed statement, Carrefour's press office told bne that, "in
line with its strategy of developing the Carrefour brand, the Majid Al
Futtaim group continues to analyze the Armenian market and aims to
open its first store in the next 12 months."
The article says Armenia's small retail sector is relatively
underdeveloped, and still populated by local players, among them Star,
SAS, Galaxy and Yerevan City - all of which have emerged in the last
decade. The supermarket and grocery chains have gradually replaced
open-air bazaars and street vendors, as Armenia, like other
post-Soviet countries, makes its transition to a formal retail sector.