French retailer Carrefour’s franchisee Majid Al-Futtaim  is to open three hypermarkets in Armenia, retailstudio.org reports. The first 6,000 square metres (64,600 square feet) outlet is to be located in the south of capital Yerevan.

The franchisee was to enter the market last year, but faced opposition from local oligarchs and business interests. Majid Al-Futtaim  officials met members of the Armenian government earlier this year, prompting rumours of a possible acquisition of Yerevan City supermarkets chain owned by local politician and businessman Samvel Alexanyan.

Source: Planet Retail