Tesco to introduce new retail brands in global growth quest
Tesco chief Philip Clarke has outlined his vision for Britain’s largest retailer with a new 10 year plan for the ubiquitous grocery chain.
It will see the retailer devise a new range of global brands with which to woo an emerging middle class in the developing world.
These will join existing names such as the firms Florence & Fred clothing label and Technika consumer electronics catch all joined by fresh monikers as the store seeks to minimise the Tesco name – which can be a turn off for shoppers.
Clarke explained: “"As people develop their higher levels of disposable income, they want to treat themselves. They do not want to just buy Tesco Value shower gel. They want to have something sat in their bathroom that looks like it is a brand. So you create brands."
Clarke took over the reins at Tesco in March from Tesco stalwart Sir Terry Leahy.