Retail giant Carrefour has announced plans to exit Singapore with the firm revealing it will close its two existing hypermarket outlets by the end of 2012. The move comes after the firm failed to sell the business and continues the firm's process of removing itself from Asian markets in which it is not likely to become one of the top three largest players. Carrefour has failed to build significant market share in Singapore, which we attribute to its higher-end positioning and lack of adaptation to local market conditions.
Source: Food & Drink Insight -> article payant http://goo.gl/hoFCQ
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