BAKU, Azerbaijan, May 1
By Ilkin Seyfaddini - Trend:
Tashkent will open a chain of super and hypermarkets of French Carrefour retailer in 2020, Trend reports citing Uzbek media.
The agreement was signed by Majid Al Futtaim (Dubai) and Akfa Group in October 2019.
"At the first stage it is planned to open seven stores, including three supermarkets and one hypermarket in 2020 and two supermarkets and one hypermarket in 2021. They will be located in facilities owned by Akfa Group on a total area of 17,400 square meters," said the report.
It is planned to open the first store in 3Q2020, as construction is currently underway.
Carrefour will allocate about $11 million to enter the Uzbek market and will invest $10 million a year to support expansion in the coming years, the report says.
Carrefour operates more than 12,000 stores and e-commerce sites in more than 30 countries. Carrefour is a multi-local, multi-format and omni-channel retail Group that employs over 360 000 people worldwide and generated 84.91 billion euros sales under its banners in 2018.
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