Carrefour's Exit from Greece

Abstract

The case discusses the entry of France-based retailer Carrefour SA (Carrefour) into Greece and its subsequent exit. Carrefour entered Greece in 1991 by investing in the ‘Continent' hypermarket in the country. In 1993, it entered the food retail segment in Greece by acquiring food supermarket chains owned by the local retailer Marinopoulos. With the acquisition of Promodès in 1999, Carrefour became the second largest retailer in the world in terms of store count, next only to the US-based Wal-Mart. The acquisition of Promodès brought supermarkets, discount retailers, and corner shops like Shopi, Dia, Score, Pryca, Promocash, Puntocash, Champion and 8 à Huit into Carrefour's fold....

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Issues

The case is structured to achieve the following teaching objectives:

• Understand the challenges posed by an economic crisis.
  
• Study how the economic environment affects businesses, especially during a crisis.
  
• Analyze Carrefour's entry and expansion strategies and the factors that supported Carrefour's business initially in Greece.
  
• Understand the Greece economic crisis and its impact on the retail industry.
  

Keywords

Carrefour, Greece, Carrefour Marinopoulos, Eurozone, European union, Recession, Bailout pacakage, Austerity measures, Retail, Exit, Dia, Hard discounter, Hypermarket , Convenience stores, 2004 Olympic Games, European commission, Elections,Carrefour, Greece, Carrefour Marinopoulos, Eurozone, European union, Recession, Bailout pacakage, Austerity measures, Retail, Exit, Dia, Hard discounter, Hypermarket , Convenience stores, 2004 Olympic Games, European commission, Elections

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