Israeli retail chain Yeinot Bitan will convert 25 supermarkets into Carrefour shops by the top of 2022 at an funding of NIS 40 million. Three of those shops in Tel Aviv, Or Yehuda and Kiryat Gat will likely be fully new supermarkets. The present supermarkets that will likely be transformed into shops of the French model are all in central Israel together with in Tel Aviv, Kiryat Ono, Herzliya, Rishon Lezion, Rosh Ha’ayin, and Ra’anana.
Carrefour to convey French revolution to Israeli retail
World retailing large Carrefour to enter Israel
Yeinot Bitan will convert 20 extra supermarkets to the Carrefour model within the first quarter of 2023. All of the supermarkets will likely be designed by Carrefour themselves, in response to the worldwide requirements of the chain. Within the first stage, the branches will function underneath the Tremendous model till the total entry of the chain into Israel however visually the supermarkets will likely be in response to Carrefour’s idea.
Yeinot Bitan Group, which incorporates Mega, has 150 branches, and is the second largest grocery store chain in Israel. In Might 2021, Electra Shopper Merchandise (TASE: ECP) owned by the Salkind brothers acquired management of the Yeinot Bitan Group at an organization valuation of NIS 400 million.
In March 2022 Electra Shopper Merchandise reached an settlement with Carrefour to be its Israeli franchisee for 20 years with an choice to increase for an extra 20 years.
In accordance with Nationwide Retail Federation (NRF), Carrefour is the world’s seventh largest retail chain with 14,000 branches in Europe, the Center East, East Asia, and Africa and annual gross sales turnover of €81 billion. It will likely be the primary worldwide meals retail chain to function in Israel.
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 31, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.