Au Revoir, Chiang Mai Carrefour?
The French Carrefour retailing giant is planning to raise one billion dollars by selling all its superstores in Thailand, Malaysia and Singapore, Reuters news agency has reported.
Competitors Auchan were the first big western retailers to open in Chiang Mai, bringing a wide range of European “comfort foods” to northern Thailand. Although popular, their performance failed to reach internal targets and they sold the premises on Superhighway to the Thai-Belgian Big C group.
Other French retailers have recently moved out of Japan and Korea, some seeking a more profitable future in India. Several Thai and international groups are reported to be showing interest in our local Carrefour.
