Carrefour, Tencent expected to partner in smart retail

Updated 2018-01-24 09:24:01 Xinhua

Carrefour Tuesday announced a preliminary strategic cooperation agreement with Chinese tech giant Tencent to offer a smart retail experience in China.

The French retail giant will improve its online visibility, increase the traffic of its offline and online retail activities, and benefit from Tencent's advanced digital and technological expertise to develop new smart retail initiatives, according to the company's statement.

Tencent will further develop the retail services offered on its social platforms and promote the use of WeChat as well as mobile payment, cloud computing, and other services within the Carrefour ecosystem.

Carrefour has also signed a term sheet with Tencent and fresh food supermarket Yonghui regarding potential investment in Carrefour China.

The potential investment will leverage Carrefour's global retail knowledge with Tencent's technological excellence and Yonghui's operational know-how and in particular its deep knowledge of fresh products, the statement said.

Upon completion of this investment, Carrefour will remain the largest shareholder of Carrefour China.

The strategic cooperation and investment are subject to further diligence and agreement of the parties on the terms of a definitive documentation, according to the statement.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 19 2018 02:24:01

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 19 2018 02:24:01

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 19 2018 02:24:01

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords