Carrefour plans to double down in CIS

Majid Al Futtaim Retail plans to double down in the CIS markets, Georgia, Armenia and Uzbekistan, according to Arabian Business.

The CEO of the Group, Hani Weiss said the first Carrefour opened in Uganda at the beginning of last year, while the first Uzbekistan location opened in December.

Earlier this month Majid Al Futtaim said it was cooperating with AKFA Group run by Tashkent mayor Jahongir Artikhudjaev, and other owners of commercial real estate in Uzbekistan.

“The cooperation is based on a long — term lease," it said.” Our main goal is to provide consumers in Uzbekistan with retail services that meet the high international standards and best practices of Carrefour retail, create jobs, support local producers and, through this, contribute to the development of the economy of Uzbekistan”.

Weiss has also revealed ambitious plans to open more than 100 Carrefour stores this year across the Middle East, Africa and Eastern Europe.

He said the openings would increase Carrefour operations from 358 to 450 by the end of 2021, with a particular focus on the convenience model, which has proven especially popular over the ongoing pandemic period.

“2020 has been very remarkable in terms of the opening of stores. We have opened more than 51 stores and we are targeting a little bit more than that this year. We are working very actively,” Weiss added.