Carrefour planning expansion in Greece and Russia

According to local reports, France`s number one retail chain Carrefour is eyeing expansion in Greece and Russia. However, when contacted by just-food, the company declined to confirm its interest in these specific markets. Carrefour’s Greek unit, Carrefour Marinopoulos, reportedly plans to invest EUR100m a year between 2006 and 2008 to expand in the market. The plans are said to include the opening of 20 new Marinopoulos supermarkets and 20 5’Marinopoulos stores by the end of 2006.

Meanwhile, Turkish reports have suggested that Carrefour intends to enter the Russian market through a joint venture with Turkish company Sabanci Holding. It currently operates 12 hypermarkets and 88 supermarkets in Turkey in partnership with Sabanci under the Carrefoursa banner. In March, Carrefour said it planned to expand in Turkey through the opening of four new hypermarkets a year between 2006 and 2008 with the aim of increasing its market share by 20%.