YEREVAN. – The world-renowned French Carrefour hypermarket chain’s branch in Armenia’s capital city of Yerevan is reducing its space, according to Haykakan Zhamanak newspaper.
“And in general, it is apparent that the Yerevan supermarket of the world-renowned Carrefour, which works with success in numerous countries, does not operate with that much success, to put it mildly, and now, it will have to economize.
“Aside from management shortcomings, Carrefour also competes with the supermarket chain belonging to the most influential tycoon of Armenia.
“Unlike other commercial networks [in the country], it cannot work in shadow [economy]; its opportunities for conducting imports are very limited, etc., and so on.
“And the [Armenian] government laid substantial restrictions on the activities of Carrefour, depriving it of the competitive edge.
“So, Carrefour Yerevan is an example of a partially-snatched business,” wrote Haykakan Zhamanak.
