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Carrefour to continue sustainable development in China

Xinhua Financein BEIJING
2018-08-08 15:56

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Carrefour will continue to pursue sustainable development in the Chinese market, a public relations executive from Carrefour China has told Xinhua.

The executive, who wished to remain anonymous, said all 270 Carrefour stores in China were operating normally.

The executive made the remarks after an online article indicated that Carrefour would eventually sell itself to Tencent and exit the Chinese market to seal a deal with Tencent and Yonghui amid its French headquarters's staff cuts.

The executive expressed confusion at the article's claims, saying the staff cuts, cooperation with Tencent and Yonghui as well as greater focus on e-commerce was outdated news already announced at the beginning of this year.

Carrefour signed a term sheet with Tencent and Yonghui regarding potential investment in Carrefour China in January this year. Upon completion of the investment, Carrefour will remain the largest shareholder of Carrefour China, according to the executive.

Carrefour aims to improve online and offline services through cooperation, and has no plans to close any of its giant stores in China, according to the executive.
In June this year, Thierry Garnier, Carrefour executive director for Asia, said that as China was a testing ground for new retail methods, the retail chain would not leave China.
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