Through Telemarket, Casino and Galeries Lafayette increase their co-operation

The two large French retailers Casino and Galeries Lafayette are stepping up their co-operation. This will be done through joint ownership of grocery e-tailer Telemarket. With Galeries Lafayette as a 70 per cent majority owner, Casino is already present through a 15 per cent stake through Monoprix.

Although Telemarket is still running a deficit, its 50 per cent market share in the Paris region is considered to be quite valuable. The price of the company is set to around 1 Billion French Francs (close to 200 million USD).