Carrefour looking to re-enter Russia

French retailer Carrefour is looking to re-enter Russia, according to local newspaper rbcdaily. The retailer has asked its franchise partner in the Middle East, Majid al Futtaim Group, to develop a plan for a second market entry into Russia. Representatives of Majid al Futtaim have reportedly attended meetings with local developers over the opening of Carrefour hypermarkets in Russia through franchise on several occasions. Carrefour has repeatedly denied plans to enter the Russian market on its own in the short term.

In September 2010, Carrefour CEO Lars Olofsson said he would like to re-enter Russia. He said: «If we go back into Russia, it will be through an acquisition. I pulled out last year because you can’t win with little guns when big cannons are against you.»

Carrefour decided to sell its operations and withdraw from Russia at the end of 2009, after entering at the beginning of that year. Carrefour said in a statement that it had decided to sell its Russian business due to lack of prospects for organic growth.