Walmart to take over Carrefour’s India stores?

American retailer Walmart is reportedly to take over Carrefour’s three stores in Indian cities Delhi, Jaipur and Agra.

In July, French retailer Carrefour said it would exit the Indian market by closing its five cash and carry stores there.

Reports say Walmart has struck a deal with land owners to replace the three Carrefour stores in the three cities. It would be Walmart’s first locations in Delhi and Jaipur and second in Agra.

Walmart declined to confirm the reports.

However, Rajneesh Kumar, VP of corporate affairs at Walmart, said: “Our planning team is diligently progressing on our growth strategy, as announced earlier, for opening an additional 50 cash and carry stores in the next four to five years in the country. Besides, based on the encouraging response to our B2B (business to business) e-commerce initiative (Hyderabad and Lucknow), we would soon start extending this virtual platform in our remaining stores, in a phased manner.”

Walmart now wholly owns the 20 wholesales stores branded as Best Price Modern after ending its partnership with local partner Bharti Enterprises.

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