French retailer Carrefour Invests Rs 160 cr to spruce up wholesale


Carrefour, the world's second largest retailer, which runs a wholly-owned cash-and-carry business in India has invested an additional Rs 160 crore in the country. The company runs five wholesale stores in the country, and has already invested Rs 300 crore in opening stores and creating allied back-end infrastructure for the business. In a recent board resolution, Carrefour decided to increase its authorized capital to Rs 450 crore through fresh equity to fund India operations, which will go into expanding its business. Two days after the new trench of India investments, Carrefour opened its first store in south India - a 64,000 sq ft outlet in Bangalore. Its first four outlets were all in north India, in Delhi, Jaipur, Meerut and Agra.

Carrefour incurred a loss of Rs 83 crore for calendar 2012 on revenue of Rs 201 crore after reporting a loss of Rs 55 crore for the previous year.

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