Carrefour has revealed its much-anticipated transformation plan for the next four years, titled 'Carrefour 2022'.
The strategy - centred around a huge investment in its digital presence and the slashing of other costs - was announced by CEO Alexandre Bompard in his first major address since taking the job last July.
By 2022, the French retailer, the second-biggest of its kind in the world, will plough €2.8bn into digital, with a target of €5bn from food e-commerce in the same time period. Earlier this month, Carrefour took a 17% stake in private sales e-commerce business Showroomprivé.
Cost-savings will total €2bn by 2020 as 2,400 workers at its French head office look set to be offered voluntary redundancy. It also intends to reduce the number of ex-DIA stores by 273.
As a marker of its intent to be more open to commercial partnerships, deals have been agreed with Chinese internet giant Tencent and local retailer Yonghui to take stakes in Carrefour China.
"I have a great ambition for Carrefour: To become the leader of the food transition by offering our customers, every day and everywhere, quality and trustworthy food at a reasonable price," outlined Bompard.
"To do this and return to a conquering dynamic, we must revamp our model, by simplifying our organization, opening ourselves up to partnerships, improving our operational efficiency, investing in our growth formats, building an efficient omnichannel model and developing our fresh and organic products offer, notably under the Carrefour brand."