Carrefour China

Carrefour China, a subsidiary of the French multinational retailer Carrefour Group, introduced the hypermarket concept to China in 1995. For nearly two decades, it was a leading foreign retailer, expanding rapidly and attracting consumers with a one-stop-shop experience and a mix of international and local products, including fresh foods.

Facing increased competition from domestic retailers and the rise of e-commerce, Carrefour China's performance began to decline in the mid-2010s. In 2018, the company announced a strategic partnership with Tencent and a potential investment from both Tencent and Yonghui Superstores to leverage their technological and operational expertise, particularly in fresh products, data analysis, and mobile payments. This collaboration aimed to enhance Carrefour's digital presence and develop smart retail initiatives.

In a significant shift, Suning.com acquired an 80% stake in Carrefour China for approximately €620 million (RMB 4.8 billion) in September 2019, making Suning the controlling shareholder. The acquisition was part of Suning's smart retail strategy, intending to digitize Carrefour's stores and integrate them into an online-to-offline ecosystem. Following the acquisition, Suning integrated its home appliance sections and other assets into Carrefour stores. Despite these efforts, Carrefour China continued to face financial difficulties, reporting significant losses and accelerating store closures from 2021. The number of stores plummeted from 205 in 2021 to just four by 2024 amid ongoing financial struggles, supply chain issues, and a legal dispute between Carrefour Group and Suning over the remaining 20% stake. By June 2025, Suning announced it would sell several of Carrefour's debt-laden regional subsidiaries for a symbolic price, signaling the near end of the brand's once-prominent presence in the Chinese market.

Keywords: hypermarket, retail, fast-moving consumer goods, supermarket, convenience stores, grocery, e-commerce, O2O retail, smart retail, food retail, omni-channel, consumer goods, fresh produce, Suning.com, Tencent partnership, retail transformation, store closures, China retail market, FMCG, online shopping