Crisis forces Carrefour out of Colombia
Carrefour executives confirmed that the French retailer will sell its operations in Colombia to Chilean retail giant Cencosud SA for 2,6 million dollars. The move is part of Carrefour’s efforts to revitalize its stores in Europe, where the debt crisis has severely weakened markets.
Cencosud had already made its way into Colombia with the brand Easy, currently sold in Exito stores. Carrefour has more than 100 stores in Colombia, employs some 10,200 people and, in 2011, reported more than 4 billion pesos in income.
According to the director of Prochile Colombia, Ignacio Fernández, Chileans are attracted to Colombia’s “market of more than 46 million people, the number of cities with possibilities for expansion and its privileged geographical location on two oceans.”