French hypermarket chain Carrefour eyes acquisition of food retail cos. in India

French retailer Carrefour is exploring the acquisition of struggling food retail companies in India as part of a strategy to scale its operations rapidly. The company has re-entered the Indian market through a franchise agreement with Dubai-based Apparel Group and recently launched its first store. The partnership aims to open 50 stores within three years.Founded in 1959, Carrefour operates a network of over 15,000 stores across more than 40 countries. In India, the company is moving away from its previous large-scale hypermarket model, opting instead to test smaller store formats ranging from 15,000 to 25,000 square feet.