Amazon looking to expand its footprint in France

Amazon is on the prowl in France. The online retailer aims at entering the country either theough the acquisition route or buying a stake in a French supermarket.

French Newspaper Le Monde has reported citing sources familiar with the matter at hand, Amazon has contacted various French supermarket operators, including Casino, regarding either setting up a distribution network in France or making an acquisition in the country.

Le Monde has reported that Amazon had approached Casino to either acquire or buy a stake in its Monoprix division; the move however was rejected by Casino.

“Casino does not intend to sell Monoprix,” said Le Monde citing sources within Casino.

While Amazon could not be immediately reached for comment, Casino declined to comment.

According to Le Monde’s report, Amazon had also been in touch with other supermarket companies including Systeme U and Intermarche.

Systeme U and Intermarche could not be reached for comment.

Earlier this months, traders had speculated that Amazon was in a bidding race for Carrefour, a French supermarket operator.

Carrefour said it did not comment on market rumors.

Earlier this month, Amazon acquired Whole Foods Market for $13.7 billion, in a deal that brought about a significant change in the $700 billion U.S. groceries market.


Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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