Europe’s largest retailer commits billions to e-commerce

Carrefour, second only to Walmart in the retail world, has big plans to change.

New CEO Alexandre Bompard has earmarked $4.5 billion over four years — six times their current investment — in e-commerce in a bid to catch up with other online retailers like Amazon, who’s rumored to be looking at making a jump into the European market which Carrefour currently dominates, according to The Business Times.

The company also cut a deal with Chinese tech company Tencent and retailer Yonghui giving the two firms a stake in the long-embattled Carrefour China, though Carrefour retains the largest stake. More...

From the Business Times /  Erin Hudson

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