India’s Bharti Group is in talks with two major retailers for a possible JV to operate retail stores in the country.
The company is said to be in advanced discussions with French retailer Carrefour and Japan’s Aeon, with both planning to take advantage the 51 per cent FDI in multi-brand retail.
Carrefour has opened five cash and carry stores called WC&C India Pvt Ltd since it entered the country in 2010. Meanwhile Aeon, which operates not only supermarkets but also convenience chain, department stores, discount stores and drug stores, has been attracted to India’s multi-brand retail market due to its one billion population and their increasing purchasing power.
While the three companies declined to comment on the reported talks, a source familiar with the matter confirmed it, saying Bharti is negotiating with foreign players but a final call will be taken after the election.
Should the discussions come into fruition, Carrefour or Aeon will replace Walmart which partnered with Bharti to run cash and carry business in India until October 2013, when the two decided to end their six-year JV. Walmart now fully owns the 20 Best Price Modern wholesale stores while Bharti continues the operation of Easyday retail chain.
