- 17th March 2020
- Posted by: damian.shore
- Categories: Côte d'Ivoire, Carrefour, Africa, Mali, Supermarkets, Burkina Faso, SagaRetail News, Mali
Local Carrefour franchisee Retail Holding recently opened two new Carrefour Markets in Morocco, bringing its total number of outlets in the country to 79. These are located in Rabat (with a sales area of 559m2) and the Casablanca suburb of Bouskoura (634m2). It is planning to open a total of 18 new stores in Morocco this year, with a cumulative sales area of 28,000m2.
Founded in 2005, Retail Holding, which also franchises such banners as apparel retailer Kiabi and Virgin Megastore in Morocco, is expanding rapidly: It had a turnover of MAD9 billion (USD945 million) in 2018, up 9.2% on the previous year and 56% over the previous five years.
Having taken control of Ivorian chain CDCI (where it had been a minority shareholder since 2014) and raised MAD750 million (USD79 million) in a bond issue last year, Retail Holding is now looking to expand into neighbouring markets, particularly Mali and Burkina Faso, as well as Senegal, Jeune Afrique reports.
The Sagaci Retail View: CDCI has the most developed retail network in Côte d’Ivoire, at least outside of the capital. Its most northerly outlet, in Korhogo, is less than 150km from the borders of both Mali and Burkina Faso (in contrast, is it more than 550km from Abidjan).
This proximity should mean that CDCI is better prepared than any potential rivals for the logistical challenges posed by these frontier markets, where retail chains are still virtually unknown, as well as being reasonably cognisant of the preferences and habits of local consumers.
If you want to know more about CDCI’s growth, operations, and strategy, check out our CDCI Retailer Research Report