Big Changes In China Challenge French Retail Giant Carrefour. BEIJING – “Big” is the operative word for both French-owned retail giant Carrefour, and the People’s Republic of China. So when rumors began circulating last month that Carrefour was planning to pull out of China and hand over its operations to the local China Resources Group conglomerate, it made some big waves. Carrefour immediately denied the rumors, and the public relations spokesman of Carrefour China told the Economic Observer that the company will maintain its rhythm of opening 20 to 25 new branches per year.
Yet behind the rumor lies the truth that Carrefour China has seen much better days. Since July 2010, it has shut down six of its stores. The shining image of this retail giant’s entry to China is in the process of being tarnished. In recent years, Carrefour has lost all the privileges that it enjoyed as a foreign enterprise when it first entered China, both in terms of obtaining land and opening stores. Carrefour closed four stores last year.
In an earlier interview, Mr. China_Consumer_Market_Strategies_2011.pdf (application/pdf Object) The value of China's emerging middle class - McKinsey Quarterly - Economic Studies - Productivity & Performance. Consumer goods: The mystery of the Chinese consumer. China_Consumer.pdf (application/pdf Object)