Carrefour Group to begin operating in Uzbekistan starting in 2020
Carrefour is to establish a presence in Uzbekistan in 2020 through its partnership with the Majid Al Futtaim Group, heralding its arrival on the central Asian market.
The Carrefour Group is planning to open seven stores in Tashkent over the next two years: three supermarkets and one hypermarket in 2020, followed by another two supermarkets and one hypermarket in 2021.
Carrefour's arrival in Uzbekistan will create 2500 direct and indirect jobs and will benefit more than 600 local suppliers, producers and farmers. Uzbekistan's food market is enjoying fast growth and should be worth some $5 billion in Tashkent by 2023.
Patrick Lasfargues, Carrefour's Executive Director for International Partnerships said: "We are delighted to be bringing our stores and products to Uzbekistan via our long-standing Partnership with the Majid Al Futtaim group. With our support, our Partner is implementing an active strategy to grow Carrefour's network in the countries in which it is well established, as well as new ones where its expertise will help it quickly establish itself as market leader".
Hani Weiss, Managing Director of Majid Al Futtaim - Retail said: "Uzbekistan struck us as an ideal market to introduce the Carrefour name – it is enjoying fast economic growth and there is consumer demand for a modern form of retail. We see Uzbekistan as a stepping stone to the rest of the central Asian market".
The Carrefour Group and Majid Al Futtaim have been working together since 1995 and run 285 Carrefour hypermarkets and supermarkets in 14 countries.
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