Econostrum | Economic News in the Mediterranean

The Israeli Prime Minister plebiscites the arrival of Carrefour in his country

Written by Frédéric Dubessy on Tuesday, July 26th 2022 à 15:10 | Read 504 times

ISRAEL / FRANCE. On Sunday 24 July 2022, Yair Lapid openly welcomed the arrival of the French retailer Carrefour in his country during the Council of Ministers. For the Israeli Prime Minister, it will "significantly reduce" the prices of basic products and therefore the cost of living. He specified that his government was in favour of open competition, indicating that "those who were raising their prices irresponsibly could well find themselves facing formidable competition".

At the beginning of March 2021, Carrefour (12,000 shops worldwide) announced the signing of a franchise agreement with Electra Consumer Products for a period of twenty years with an option for a further twenty years. Under this partnership, the French retailer's brand will replace all 150 Yenot Bitan shops, a subsidiary since 2021 of the Israeli giant specialising in the production, import, export, sale, distribution, marketing and servicing of a wide variety of consumer electrical appliances. They will become Carrefour Israel.

"Carrefour brings a long-awaited change to the Israeli consumer's shopping experience, as well as a wide range of products that will set a new price point in the local market. Carrefour's entry into Israel with Yenot Bitan will change the rules of the game and give us a real competitive advantage. The change we will bring will be felt in every household and will offer real solutions to improve the cost of living in Israel," said Amit Zeev, CEO of Yenot Bitan at the time.

Carrefour products already available at Yenot Bitan

Carrefour products are starting to be sold in Israel (photo: Yenot Bitan)
Carrefour products are starting to be sold in Israel (photo: Yenot Bitan)
Carrefour products have been available on Yenot Bitan's website and shelves since the summer of 2022. Carrefour will put its name to the store before the end of this year. "We found a strong entrepreneurial spirit in the Electra Consumer Products teams, confirmed by the acquisition of Yenot Bitan in 2021. Moreover, we are convinced that Carrefour's arrival in Israel will significantly contribute to improving the local shopping experience as well as the purchasing power of customers with the best offers at more affordable prices," commented Patrick Lasfargues, Carrefour's executive director of international partnerships.

"Carrefour's entry into the Israeli market is the biggest and most important step in the history of retail in Israel. Carrefour is a leading global chain and one of the most important for private label food products. This will enable Electra Consumer Products to dominate the Israeli food and consumer goods market and expand into other markets," said Zvika Schwimmer, CEO of Electra Consumer Products.

7-Eleven and Spar to expand in Israel

"We expect other large companies to follow suit," said Yair Lapid at the Council of Ministers meeting on 24 July 2022.

Electra Consumer Products has already signed, in October 2021, a 60 million shekel agreement with the American 7-Eleven (77 shops in 18 countries) for mini-markets. They should open several hundred units over the next three years. And this from 2022, with priority given to the busiest places such as city centres and office areas.
The first one is due to open in July 2022 in Tel Aviv at the Dizengoff Center.

This contract is also for twenty years, but with the possibility of extending it to fifty years. Electra will pay a monthly percentage of the shops' revenues to 7-Eleven. Zvika Schwimmer said last year that she had received 'thousands of requests from franchisees and grocery shop owners who want to convert their shops'.

The Dutch supermarket chain SPAR (13,623 shops in 48 countries) has just been announced. It will set up with its own branches.


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