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Vice Speaker of Armenian Parliament: Madrid Principles are not the key element of the Karabakh peace process

US "deeply concerned" on criminal charges against Yunus family

US Department of State: It will take weeks to restore full visa processing capacity

VTB critical of EU's decision to restrict its access to capital markets

Rostelecom launches 40Gbs network in Yerevan

Electric power tariffs rise for population of Armenia on 1 August

Audit Chamber of Armenia calls silly statement claiming that ex-head of Pension Fund 'paid' $250,000 to Audit Chamber's leadership

Orange Foundation helps opening a new computer center in Pemzashen village, Shirak marz

Nominee for U.S. ambassador to Turkey: "Facilitating Armenia's regional integration by opening its border with Turkey will be one of my key goals as Ambassador"

Georgi Kolarov: The second Nagorno-Karabakh war is inevitable

Russian Embassy in Armenia gives a harsh response to the U.S. Embassy

Participants in Beeline's Fortune drawing campaign awarded prizes

Yerevan-Sevan-Ijevan-Azeri border highway to be open in late August

Armenian FM: Through its destructive stance Azerbaijan hinders the Nagorno-Karabakh peace progress

Up to 45% of Armenian citizens are potential emigrants

US Embassy urges Armenian businessmen to refrain from contacts with Russian companies

A leopard family in the south of Armenia gives birth to two cubs

Two Armenian soldiers die because of the Azerbaijani sabotage attack at the line of contact

Human rights activist Leyla and Arif Yunus are accused of secret collaboration with Armenian special services

Member-churches of World Council of Churches going to recognize Armenian Genocide in 2015

NKR foreign minister: Nagorno-Karabakh is where Europe begins

On Aug 2 South Caucasus Railway's commuter trains will be free of charge all over Armenia

Worker killed by a rock fall at perlite deposit in Aragatsavan

Azeris continue firing at Armenia's borderline villages

Serzh Sargsyan: OSCE Minsk Group has suggested principles that can serve as pivot for settling Nagorno-Karabakh conflict

Paruyr Hayrikyan: Armenia and Ukraine have a common "frenemy" in the person of Russia

Electric Networks of Armenia is going to dispute Public Services Regulatory Commission's decision to impose a 15mln AMD fine on it

Economist: In face of economic sanctions against Russia, it is necessary to speed up the process for creating Eurasian Economic Union

Economist: The West's sanctions against Russia will affect the Armenian economy

Rostelecom launches online payment service

Public Services Regulatory Commission of Armenia imposes a 15mln AMD fine on Electric Networks of Armenia

Oppositionist: Interests and viewpoints of Stepanakert do not necessarily coincide with those of Yerevan

Oppositionist: Interests and viewpoints of Stepanakert do not necessarily coincide with those of Yerevan

Ashot Manuicharyan: Armenian President's function is to answer "yes, sir!" and to go do it

Deputy Prime Minister of Azerbaijan criticizes the ICRC again

Nature protection minister charges to resolve problems of several tailing dumps on Syunik region

Official stance of VTB Bank OJSC and VTB Bank (Armenia) CJSC on U.S. sanctions

RPA member: Nagorno-Karabakh Prime Minister's statement had no message to negotiators

Ashot Manucharyan: Armenia may face chaos or isolation at any moment

Armenia joins World Day against Trafficking in Persons

Lake Sevan is among top ten attractions in post-Soviet preferred by Russian people

Leyla Yunus is at Prosecutor General's Office, Arif Yunus decides to "give up"

Pre-Parliament: The overarching goal for all Armenians is the formation of a representative government in Armenia

The OSCE is ready to assist in any way possible to stop the cease-fire violations in karabakh conflict zone, Andrzej Kasprzyk says

US Department of State: Media outlets of Armenia published inaccurate articles portraying religious minorities as criminals and spies

Levon Hayrapetyan loses consciousness on Wednesday morning

Public Services Regulatory Commission decides to reduce tariffs of some services of ArmenTel CJSC

Poaching and illegal hunting tours endanger birds in Armenia

The NKR premier: The Madrid Principles are certainly unacceptable to us

Armenian Copper Programme cuts blister copper production by 13.5%

French President "tames" Armenian oligarchs to pave the way for Carrefour into Armenia

  • by Nana Martirosyan

  • Wednesday, May 7, 16:59

 During his visit to Armenia on May 12 French President Francois Hollande will inspect the site where the French retailer, Carrefour, is planning to open a hypermarket. 

The Embassy of France in Armenia reports that the articles saying that Hollande will attend the opening of Carrefour's hypermarket in Armenia are not true as this project is yet far from being finished.

The story of Carrefour in Armenia sounds like some mysterious anecdote:  according to former Armenian Prime Minister Tigran Sargsyan, the memorandum for opening a Carrefour hypermarket in Armenia was signed as long ago as 2011. French Ambassador Henri Reynaud confirmed Sargsyan's words but said that there were certain circumstances preventing Carrefour from specifying its plans in the country. 

With no hypermarket opened so far, some media began claiming that the key obstacle to Carrefour's plans in Armenia is local oligarch, the owner of Yerevan City Trade Chain Samvel Alexanyan, who convinced the owner of Dalma Garden Mall, Tashir Group, to deny a site to Carrefour despite earlier agreement. Instead the area was given to Alexanyan, who opened one more supermarket there.

The Armenian authorities tried to hush up the story. Deputy Economy Minister Tigran Harutyunyan said there were some contradictions between the companies but he did not specify the causes.

Reliable sources have told ArmInfo that Carrefour's hypermarket in Yerevan will be operated by the UAE-based Majid Al Futtaim Holding, who is the regional holder of the franchise for Carrefour's supermarket network. 

The key concern of Armenian oligarchs is that Carrefour is an importer of some goods and can undermine their monopolies by selling goods at low prices.

Still it seems that Carrefour is not going to give up. As far as ArmInfo knows, it has asked for the French authorities' support. So, it is not a coincidence that during his forthcoming visit to Armenia the French President will inspect the company's site in Armenia. 

The first Carrefour hypermarket in Armenia will be 6,000 sq m large and it will not be the last one: the retailer has plans to open there more hypermarkets in the country.

Although Carrefour's campaigns to expand into Armenia and Georgia were launched at one and the same time, in Georgia Carrefour has been present for two years already.

Carrefour is the largest trade chain in Europe and the second largest in the world (with over 15,000 outlets). The group sells almost 80,000 items and employs over 400,000 people. Experts say that in Armenia Carrefour may invest some $6mln-8mln. Its entry into the country is expected to foster competition on the local retail markets, which is now in the hands of three oligarch-owned chains.

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ArmInfo

07 May 2014

Tuesday, June 24 09:52

Tatevik

Could you please indicate the full date of the publication of this article? Thanks

Monday, June 23 20:23

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