You are hereHome
French retailer Auchan shuts down Dubai hypermarket
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri January 7, 2011 10:07 pm

UAE. The poor economic climate has forced French retailer Auchan and local partner RetailCorp to close the Auchan hypermarket in the shopping mall of DragonMart in Dubai, Auchan said.

The decision will however have no impact on Auchan's accounts, the company said in a statement.

Auchan signed in 2008 an agreement with Nakheel, a Dubai World company, to create a joint-venture called Hypercorp to operate across the Gulf. In August 2009, it opened its first Auchan hypermarket in Dubai with Retailcorp, also part of Dubai World.

Auchan is the world's 11th-largest food retailer, with 1,278 stores in 13 countries and 2009 sales of €39.7 billion. The company - controlled by the Mulliez family, one of the wealthiest and most secretive in France - competes with listed rivals Carrefour and Casino.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: March 27, 2017
UAE. PwC issues new report jointly with the Global Manufacturing & Industrialisation Summit; The report outlines a roadmap for CIOs to manage the transformation of industrial companies to successfully adopt IIoT; Devising a digital strategy is key for manufacturers
date:Posted: March 27, 2017
UAE. The strongest growth rate for 2014-2015 in the region was led by Saudi Arabia and the UAE, according to a new report from The Boston Consulting Group.
date:Posted: March 27, 2017
UAE. As banks seek to be more competitive and enhance customer experiences, many look to transform their old legacy banking systems with more efficient new core solutions.
UAE. PwC issues new report jointly with the Global Manufacturing & Industrialisation Summit; The report outlines a roadmap for CIOs to manage the transformation of industrial companies to successfully adopt IIoT; Devising a digital strategy is key for manufacturers
dhgate