PARIS: French retail giants Carrefour and Promodes, which last week announced they were merging to create the world’s second-largest retail chain, have selected Financial Dynamics to handle their international financial PR.
PARIS: French retail giants Carrefour and Promodes, which last week
announced they were merging to create the world’s second-largest retail
chain, have selected Financial Dynamics to handle their international
Financial Dynamics’ team will work alongside the group’s French
financial PR agency, DGM. While the newly merged company declined to
discuss its marketing or PR budgets, the retail giant is expected to
spend freely to announce its presence.
The friendly dollars 48 billion merger of Carrefour and Promodes comes
within weeks of Wal-Mart’s takeover of British supermarket Asda, and hot
on the heels of rumors that Asda is planning to move into the French
The deal is expected to trigger a spate of mergers in the fragmented
European retailing sector.
Financial Dynamics has been charged with promoting the merger among the
media, analysts and investors in Europe, the US, Asia and Latin
International managing director Hugh Morrison will lead the account,
reporting to Daniel Bernard, chairman of the combined group. Bernard was
previously chairman of Carrefour, the larger of the two companies.
Carrefour and Promodes’ merger creates a group with expected worldwide
sales of dollars 57 billion spanning Asia, Latin America and continental
The company will be dwarfed only by Wal-Mart in the world retailing
stakes, boasting nearly 9,000 outlets - including 680 ’hypermarkets,’ a
concept which Carrefour claims to have invented - among its
Carrefour operates chiefly though its own brand chain, while Promodes is
an umbrella for several prominent French retail brands, including
Continent, Champion and Shopi chains. Approximately 260,000 employees
are on the company’s worldwide payroll.