Carrefour plans to convert company-owned stores to franchises in Greece

Carrefour is changing its approach to growth in Greece, scaling back expansion through company-owned stores and prioritising independent operators. The new direction includes converting company-owned outlets to franchises, while new additions to the network focus on areas with a strong tourism presence. For Greece’s franchise sector, the main significance lies in the shift in operating model, rather than simply the number of store openings.

From company-owned stores to independent operators

According to a report published by The Total Business on 7 October 2026, Carrefour’s retail operations in Greece remained loss-making, prompting the company to decide during 2026 to curb company-owned store expansion. The reported strategy involves converting company-owned outlets to franchises and pursuing further growth primarily through independent business owners.

These are two distinct initiatives: changing how existing company-owned stores are operated, and adding new franchised outlets. The distinction matters, as converting a company-owned store to a franchise does not add another store to the overall network.

The same report notes that the focus of expansion has gradually shifted towards Carrefour Market and, in particular, smaller convenience stores. The greater involvement of independent operators is therefore part of a broader adjustment covering both store formats and how they are managed.

AVE Group is responsible for implementing the master franchise agreement in the Greek market. Further network expansion is planned through RETAIL & MORE, with franchising taking a more central role in the strategy.

Revised target for the end of 2026

The change in direction comes with a revised store target. As The Total Business reports, four years after Carrefour’s return to Greece, the network has yet to reach the 70 outlets originally envisaged for the end of 2024. The new target is 50 outlets by the end of 2026.

These figures are targets for different periods, not confirmed totals of stores already opened. Likewise, the 50-outlet target covers the entire network and should not be read as a forecast of 50 new additions or as referring exclusively to franchised stores.

The revision provides context for the shift towards independent operators. The company is no longer pursuing its original expansion strategy on the same terms, instead prioritising a model in which independent business owners account for a larger share of its market presence.

Six openings and eight planned outlets

Franchise expansion has already delivered new stores. According to a report published by Oikonomikos Tachydromos on 6 October 2026, six franchised stores opened in the first half of the year: in Kyparissia, Corfu, Chios, Chania, Preveza and Santorini.

For the second half of 2026, the group plans a further eight franchised stores through RETAIL & MORE. The first six are reported openings, while the next eight remain planned. They should therefore not be counted together as completed openings.

The choice of locations reflects a focus on areas with a strong tourism presence. The Total Business also highlights the role of business owners who already know their local market. This geographical focus complements the change in operating model, but does not mean that locations have been announced for all forthcoming outlets.

Loyalty card and next steps

Expansion is also expected to be supported by customer relationship management tools. Oikonomikos Tachydromos reports that a loyalty card launch is planned for late 2026 as part of Carrefour’s strategy in this area. Plans also include strengthening the range of local own-label products.

These initiatives accompany the expansion plan but are separate from the conversion of company-owned stores and the opening of new outlets. Announcing the strategic direction does not confirm that every individual step has been completed.

Practical takeaway: Prospective franchisees should first establish whether an opportunity involves a new outlet or the conversion of an existing store, what financial information is available to support it, and which support tools are already in place.