Carrefour is to open 70 Express convenience stores in Brazil in 2017.
Optimism around economic recovery
Group chief executive Georges Plassat made the announcement in Paris last week. He said Brazil is a complex country, but he believes political stability will lead to economic recovery. Carrefour plans to make an initial public offering in Brazil this year. It will use some of the money raised to fund expansion.
Convenience stores could expand more widely
Carrefour already has around 70 convenience stores in São Paulo. It launched the format here in 2014 and has grown rapidly. Overall sales from the format account for under 1% of Brazilian sales, but we believe there is a great opportunity for growth. Expansion to other parts of Brazil is possible in the longer-term.
.. as Carrefour better localises its hypermarketsEarlier this month Carrefour announced an initiative to add more regional ranges into 64 of its Brazillian hypermarkets, with a view to rolling this out more widely across its entire supermarket and hypermarket estate in the country.
It's been the Atacadão format that has been driving much of Carrefour's recent impressive growth (find out more) but what's clear with these latest moves is Carrefour's commitment to drive multiple growth channels across Brazil.