Wednesday, January 20, 2010

Tescos to open first cash & carry store in 2010

Tesco, the third largest retailer in the world, is planning to open its first wholesale cash & carry outlet in India this year, its senior official said here. "We will open our first wholesale cash & carry outlet in India this year," Tesco International and Internal Communications Director Greg Sage told PTI.

Tesco already has presence in India through a joint venture with Tatas. These stores are located in Mumbai, Bengaluru, Ahmedabad and Chennai. Greg said "we see a huge opportunity for future growth in India".

Corporate and Legal Affairs Director and Tesco Board member Lucy Neville-Rolfe said Tesco operated 4,331 stores worldwide and employed 470,000 people in 14 countries. Besides India, the other international markets were the UK retail giant Tesco has presence include Thailand, Poland, Hungary, South Korea, China, Ireland, Malaysia, Slovakia, Turkey, Japan and the US.

"We continue to expand our international business and are investing in banking, mobile phones and other retail services," he said. Each of Tesco's international businesses also has a community plan, which include initiatives to help consumers to be green and meet "our commitment to be a zero-carbon business by 2050", he added.


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