CARREFOUR Turkey aims to double sales within three years

May 26, 2008 |

Planet Retail 26 May 2008

During the celebrations marking its 15th anniversary in Turkey, Carrefour has revealed plans to speed up its growth in the country. "During the next three years, we will exceed our growth of the past 15 years," said Güler Sabanci, chairwoman of the management board of Carrefour's local joint venture partner Sabanci Group. The retailer will invest a further TRL500 million (USD402 million) and create 6,000 new jobs over the next three years, said Haluk Dinçer, director of Sabanci Holding's retail group.

"Our goal is to double our business - to double our turnover from last year's TRL2 million (USD1.53 million) to TRL4 million (USD3.21 million) in the coming three years. We have a strong financial structure and can finance the upcoming growth with our own resources", he added. Over the past 15 years, Carrefour has invested TRL2 billion (USD1.61 billion) in Turkey, and the company is going to invest an additional EUR100 million (USD155 million) this year. "Until now all our profits have been reinvested," said Guillaume Vicaire, general manager of Turkish Carrefour unit CarrefourSA.

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