Tesco Mulls Launching High-End Convenience Stores
U.K. chain would feature products from Tesco’s “Finest” premium food brand.
Jun 21, 2019
WELWYN GARDEN CITY, United Kingdom—Tesco PLC shared plans to launch upscale convenience stores based on its premium Tesco Finest food brand to compete with brands such as Marks and Spencer’s Simply Food, Financial Times reports.
The UK’s biggest supermarket group unveiled its plans to analysts and investors Tuesday, sharing an illustration of a Finest-branded store featuring premium products and a café, Financial Times reports. The proposal for the new chain comes nine months after the U.K. supermarket giant opened Jack’s, a discount retailer to compete with German rivals Aldi and Lidl, BBC News reports.
Speaking on Wednesday, Tesco CEO Dave Lewis said: “Tesco Finest as a brand is one of the largest food brands in the country. We have a very high percentage of more upmarket customers,” BBC News reports. “The opportunity to curate that range and bring new things in a more convenient outlet is something that we have tested, is something we're interested in.”
Global
