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Regional

Carrefour hypermarket to be launched in Yerevan

  • Tuesday, September 11, 16:17

 A hypermarket of Carrefour SA (France), one of the largest international retail networks, will be launched in Yerevan.  

ArmInfo's correspondent has been told by a reliable source that the Carrefour hypermarket will occupy an area of up to 10,000 sq m in the new largest Dalma Garden Mall owned by Tashir Group. The total area of Dalma Garden Mall is almost 50 thsd sq m, the trade area is about 40 thsd sq m. The ground level parking area is accommodated for 742 parking stalls. The opening of the hypermarket is scheduled for November 2012.

The source says that the Carrefour hypermarket will work in Yerevan on the basis of franchising belonging to Majid Al Futtaim Holding (UAE), which is the regional franchise holder of the Carrefour network of supermarkets. Iyad Malas, CEO of Majid Al Futtaim Holding, told the Russkie Emiraty magazine that Majid Al Futtaim Holding is already working in 13 countries of the world, and has recently included several CIS countries in its portfolio, among them
Kazakhstan, Azerbaijan, Georgia and Armenia. The company is going to open its first Carrefour supermarket in Georgia in the near future. In January it opened a supermarket in Iraq. To recall, at present Majid Al Futtaim Holding has 45 supermarkets.

By the number of its stores (over 15,000), Carrefour holds the first position in Europe and the second position in the world. The network has four formats: hypermarkets, supermarkets, discount stores and corner stores. 

The range of the Carrefour hypermarkets includes up to 80,000 food and nonfood items. The total staff of the network numbers over 400,000 people. The investments in the opening of the hypermarket in Yerevan are not reported, but experts think that they may amount to 6-8 mln USD.

According to ArmInfo's data, Majid Al Futtaim Holding, the franchise holder of Carrefour, started studying the possibilities of entry to the Armenian market several years ago. The market experts think that the work of such a large foreign retail brand is impossible without clear and effective rules of customs and tax administration. In this regard, the experts think that the most important decision of the Government may be to revise the customs value of the commodities calculated on the basis of real invoices, not on the customs "menu" principles. Observers believe that the opening of Carrefour will have
a strong effect on the competitive environment in the sphere of Armenia's orderly retail marketing, which is currently divided among 3 large networks.

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