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Future Group to enter JV with French retailer

The world's biggest retail giant after Walmart, Carrefour has been scouting for local partners for its franchise retail operations in India. The JV breakup, however, is unclear.

twitter-logoPTI | December 9, 2010 | Updated 16:00 IST

Home grown retail giant Future Group is to join hands with Carrefour to bring the French retailer to India.

According to sources in the know of the development, a deal on this effect is likely to be signed within next 2-3 months.

"Future Group Chief Kishore Biyani is currently in Paris to finalise the details," a source said.

However, it is not clear who will hold how much stake in the proposed joint venture to be formed by the two partners.

The world's biggest retail giant after Walmart, Carrefour, has been scouting for local partners for its franchise retail operations in India.

At present, India allows only 51 per cent foreign investment in single-brand retail and none in multi-brand retailing.

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