Newsfeed

Beeline top management working with subscribers in sales and service offices on Beeline "Client Day"

Tbilisi refutes Armenian transport minister's statement about Yerevan-Tbilisi talks on unblocking of road via South Ossetia

On July 1 coupon bonds by Ameriabank with total volume of USD 15 mln were listed and included in main Abond list of NASDAQ OMX Armenia

South Ossetia has not received any request from Armenia related to transportation of cargos

Edward Nalbandian: We should not allow politicization of BSEC

Ardshinbank raised 10 million US dollars to extend its SME lending

On the threshold of its 20th anniversary ACBA-Credit Agricole Bank launches special campaign offering MasterCard Gold premium class credit card on beneficial terms

ICRC in Stepanakert visited Azerbaijani raiders: Hasanov states that Aliyev will "free" them

Court extends arrest of Analitik.am editor for 2 more months

The Olympic Games in Brazil, a country that welcomes the world with open arms Michel Temer Interim President of the Republic

Poll: Nikol Pashinyan and Zaruhi Postanjyan are the most opposition politicians

Areximbank-GPB Group and Ria Money Transfers halve commission fee for money transfers to Russia, Kazakhstan, Ukraine, Georgia and Moldova

Graduation certificates given to 1,500 students of French University in Armenia within15 years

Armenia improves its positions on US State Department's 2016 Trafficking in Persons (TIP) Report

Nagorno-Karabakh conflict negatively impacts cooperation of Armenia and Azerbaijan with NATO and enabling Russia's "management of instability" in the region

Russian Ministry of Emergency Situations: Over 100 trucks and 20 passenger cars still remain on Military- Georgian road

Views from Warsaw: "Enhancement of NATO presence on its Eastern flank is a part of further response to Russian aggression against Ukraine and hostile stance towards the Alliance"

James Walick says OSCE Minsk Group co-chairs looking to organize meeting of Armenian and Azerbaijani president soon

Yandex.Taxi launches activity in Armenia

Russian Emergency Situations Ministry's aircraft delivers 51 Armenian citizens trapped on Upper Lars checkpoint to Yerevan

OSCE CiO: "Germany and Azerbaijan share the view that the current status quo is unsustainable"

Forecast: Russia will always try to use Armenia as an important outpost in the South Caucasus

With Rostelecom assistance Yenokyan brothers from Vayots Dzor attended summer camp organized by Tumo

NKR Defense Army: Azerbaijan opened fire on civilians

Teghout CJSC to hold meetings on Teghout project on July 14

Yair Auron: Israeli Knesset will hold discussion on Armenian Genocide on July 5

Gagik Beglaryan considers that good roads will make Armenia attractive for Iranian business

Beeline Armenia holds a Digithon to reveal most promising and innovative solutions for development of the company

Armenian minister of transport and communication urges Yandex Taxi management to sign contracts with licensed drivers only

Armenia holds negotiations with Georgia and Russia for opening alternative road to Russia

Azerbaijani FM: Time has come to start serious work on settlement of Nagorno-Karabakh conflict

Anelik Bank and Ria Money Transfers launch a joint campaign on July 1, with the fee for money transfers to Ukraine, Georgia and Moldova halved

NKR Prosecutor General's Office completes investigation of murders of Armenian servicemen during April war: ears and fingers of many of them were cut off by Azeris

Forecast: Russia would oppose any deeper cooperation of Armenia with NATO by putting pressure on government in Yerevan

John Evans: It is time for Artsakh to take its place directly at the table of negotiations

Alexander Lukashevich does not anticipate any breakthrough solutions in Karabakh peace process with Steinmeier's visit to region

Baku reacts to Frank-Walter Steinmeier's meeting with Bako Sahakyan

Frank-Walter Steinmeier visits Armenian Genocide Memorial in Yerevan

Nalbandian about Brexit: Armenia will continue efforts towards enhancement of cooperation with Great Britain

Armenia and Germany sign intergovernmental agreement to avoid double taxation

Armenian Emergency Ministry: Russian rescue plane transporting Armenian citizens from Upper Lars border crossing makes emergency landing in Mineralniye Vody

Ambassador Mills says fighting corruption is not just a point in the list of contemplated actions that can be marked as done

Nouvelles d`Armenie: French government presents text of draft law criminalizing denial of Armenian Genocide

Former US ambassador to be included in black list of Azerbaijani Foreign Ministry for his visit to Artsakh

Nalbandian: Issue of giving Nagorno-Karabakh a status of autonomy within Azerbaijan has not been discussed

Steinmeier: Status quo in Karaabkh settlement may lead to new outbreak of violence

Rostelecom discussed with Armenian radio companies possibilities of using modern technological solutions in radio broadcasting

Orientalist: German Bundestag's recognition of the Armenian Genocide is logical continuation of Pope Francis' statement during the mass in 2015

Seyran Ohanyan: Army leadership knows what and where to plan

MP: Ratification of agreement on Joint Air Defense will affect Armenia's independence

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.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields