CURRENTS STATUS OF TESCO OPERATIONS IN INDIA
Tesco confirms joint venture with Tata in IndiaReutersFri 21
Mar, 2014 5:54 PM ISTLONDON (Reuters) - Britain's Tesco
(LSE:TSCO.L-News) has sealed a joint venture agreement with a unit
of Tata Group that will see it invest $140 million and become the
first foreign supermarket to enter the country's $500 billion
pounds retail sector.Tesco said on Friday that following receipt of
approval from the Indian Foreign Investment Promotion Board, it has
entered into a deal with Trent Limited (NSI:TRENT.NS-News) to form
a 50:50 joint venture with the operator of the Star Bazaar retail
business, Trent Hypermarket Limited (THL).
22 January, 2015 Tesco launches new online supplier
communityTesco has launched a new interactive platform to boost
collaboration, innovation and sustainability across its suppliers.
The Tesco Supplier Network will help over 5000 members from across
the world share the opportunities and challenges of delivering high
quality, affordable and sustainable products to Tescos customers.
Members will be able to connect directly with Tesco teams, learn
more about Tesco and learn from each other on issues such as
energy, food waste or innovationThis new community of Tesco teams,
suppliers and producers from around the world gives us the
opportunity to improve communication, share ideas and continually
improve the products that our customers enjoy. The Network will
play an integral part in our partnerships with suppliers to deliver
for our customers.Notes to editors: The Tesco funded site brings
together two pre-existing communities; the Tesco Producer Network,
which served fresh food producers, and the Tesco Knowledge Hub,
which was open to branded manufacturing and processing
suppliers
Tesco to open 6-8 multi-brand stores in India this
yearUK-basedTescois chalking outexpansionplans, are waiting for a
positive signal from the Narendra Modi-led central government
before moving ahead with their plans for the Indianmulti-brand
retailsector. The company, in equal partnership with the Tata
group's Trent, is working on opening six to eight new stores in
Maharashtra and Karnataka under three of its formats this financial
year, informs a source aware of the plans.THL, which currently runs
12 stores across Maharashtra and Karnataka, would open stores of
1,000 sq ft to 30,000 sq ft in Pune, Mumbai and Bangalore under
Star Bazaar,Star Marketand Star Daily formats, depending on
location and size of the properties available, the source said.
"Since they have distribution centres in Mumbai and Bangalore, it
makes sense to penetrate those cities deeper."EXPANSION
MODETesco-Trent's store-rollout road map
Plan:Adding six to eight stores to its 12 at present Size of
outlets:1,000 sq ft to 30,000 sq ft Location:Focus to be on Pune,
Mumbai and Bangalore Formats:Star Bazaar, Star Market, Star Daily
Change:Wider isle, better assortment
15 January, 2015 Tesco confirms appointment of two agencies
Tesco Chief Executive, Dave Lewis, today confirmed the
appointment of two companies - BBH and Blue Rubicon - to work with
the Group's leadership.
He said: "We are assembling a small team of world class advisers
to work on the turnaround of our reputation and brand. BBH is an
outstanding creative agency with an exceptional track record. It
will focus on advertising and customer relationship marketing led
by CEO, Neil Munn.
8 January, 2015 Hundreds of branded products now cheaper at
Tesco Simpler, lower, stable prices introduced from 8th January
Hundreds of the nations favourite branded products are now cheaper
at Tesco Average price reduction of 25% New lower prices will apply
across all store formatsTesco has today cut prices on hundreds of
branded products in response to demands from customers for simpler,
lower and more stable prices.
Tesco files application for setting up retail outlets in
India
Recently Star Bazaar, with Tesco's help, rolled out its first
minisupermarket in the western Indian state of Pune as the British
retailer looked to figure out a retail format that will work in
India, two sources with direct knowledge of the matter told
Reuters. India hub gives Tesco stores robotic technology leg-up
About 8,000 km away from the headquarters of Tesco, the worlds
third largest retailer by sales, a group of information technology
(IT) professionals is at work to make robotics a part of grocery
shopping across the UK chains stores worldwide.
The campus of Tesco HSC (Hindustan Service Centre) is spread on
15 acres in Whitefield, the IT hub on the outskirts of Bangalore
for multinational corporations. Experimenting is on with robotics
and internet-enabled clothing, as well as wearable devices, in a
highly secretive environment. The place provides about
three-fourths of the technology and innovation knowhow to stores
and businesses run globally by the Cheshunt (UK)-based grocery and
general merchandise major, for multi-channel shopping.
Popular Locations for Tesco HSC
Regulatory UpdateTesco confirms that it has been notified by the
Serious Fraud Office that it has commenced an investigation into
accounting practices at the company. Tesco has been cooperating
fully with the SFO and will continue to do so. Tesco has been
notified by the Financial Conduct Authority that, in light of the
SFO investigation, its investigation will be discontinued. Tesco
kicks off fightback with cost cuts and asset salesTesco will slash
costs and sell assets to fund lower prices and mend its finances,
Britain's biggest retailer said on Thursday, as its new boss set
out his plan to fight back from years of market share losses and an
accounting scandal.Dave Lewis, poached from Unilever to rescue
Tesco from the biggest crisis in its 96-year history, said on
Thursday he would halve capital spending, scrap the dividend,
consider the sale of the Dunnhumby data gathering business,
consolidate head office locations and shut the final salary pension
scheme to save cash.
