Despite difficulties in negotiations, Carrefour not giving up on expansion in Serbian market

The company Retail and More, a member of the Greek AVE Group, has not managed to reach an agreement and take over several retail chains in Greece, Serbia and Bulgaria through acquisitions. The French retail chain Carrefour, through its branch office in Greece, which owns all the rights for the expansion of the brand in the Southeast Europe region, has tried several times now to enter the Serbian retail market. According to the findings of the Retail Serbia portal, after the agreement was signed and the franchise taken over, the company from Greece sought a partner for the Serbian market, and when that didn’t happen, it started negotiations about the acquisition of a local chain in Serbia, which were finished unsuccessfully recently.

Retail and More also had negotiations with the Greek chain Kritikos, which also ended without success.

As Greek media reported, the company Retail and More pointed out that the expansion of the retail network was not going at the planned pace, but that they remained dedicated to a further expansion, confirming that negotiations were being had with another local chain in Bulgaria. They once again added that the company had taken over the master franchise for the markets of Serbia, North Macedonia and Albania and that the plan was to expand to those markets, without revealing more details.

As of the end of 2024, the company operated with a total of 46 Carrefour brand stores. Even with a triple increase in the turnover, a loss of EUR 3.30 million was recorded.

Carrefour doo Beograd

Carrefour

Retail and More

AVE Group

Kritikos

arrival of Carrefour chain to Serbia