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Wednesday, May 25, 2011

Carrefour, the world's second-largest retailer after Wal Mart, starts business in Tbilisi, Georgia

May 20 (Bloomberg) -- Carrefour SA, the world's second- largest retailer, will open its first store in Georgia after signing an agreement with a real-estate developer to expand in the eastern European country.

The outlet will be in the Uptown Tbilisi mall, which is located in the Georgian capital and must be completed by the end of the year, according to an e-mailed statement today from Rakeen, a developer owned by the Gulf emirate of Ras al-Khaimah.

Carrefour's business in eastern Europe includes stores in Romania and Bulgaria. Calls and an e-mail to the retailer's press office weren't immediately returned.

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