tesco-opens-shop-in-india

Tesco opens shop in India

The UK retailer continues its expansion in Asia with a new India platform via a franchise agreement with the Tata Group and a cash-and-carry business.

Sameera Anand

August 13, 2008

UK-based retailer Tesco continues to bank on a future in Asia, announcing yesterday plans for an India entry and a tie-up with the Tata Group.

Tesco will launch a wholesale cash-and-carry business in India, with an initial investment of up to ú60 million $114 million in the first two years. The initial outlets will be based in Mumbai and will offer fresh food, grocery and non-food products to small retailers, restaurants and other business owners.

Tesco is also entering an exclusive franchise agreement with Trent, the retail arm of the Tata Group. Trent will draw on Tesco's retail expertise and technical capability to support the development of its hypermarket business, Star Bazaar, for which...

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