French retailer Auchan has started charting growth plans for India as its partnership agreement with Landmark Group nears completion.

Auchan plans to open 85 stores across India over the next six years.

Based in Dubai, Landmark Group has operations in India spanning lifestyle department stores, hypermarkets, restaurants, coffee shops and entertainment. Landmark will hold 50 per cent in the joint venture while Auchan in France taking the remaining 50 per cent.

The two companies expect to announce formal agreements shortly.

The franchise deal was initiated after Landmark Group has told will end ties with Dutch retailer Spar by the end of this year. Spar is currently engaged with potential partner in India.

Auchan would be a competitor to global retailers Walmart, Metro, Tesco and Carrefour in India.

Auchan currently operates 616 hypermarkets in 12 countries and 759 supermarkets in five countries as at March this year. International markets account for 55 per cent of the company’s total revenue which summed up 44.4 billion euros (US$54.43 billion) last year.

GB