Tesco To Create More Global Retail Brands
CEO's new strategy to make the supermarket more aspirational and adaptive to consumer trends.
The CEO of Tesco, Philip Clarke, has placed emphasis on creating more global retail brands and nurturing the underperforming UK chain of supermarkets. He believes Tesco needs to be more aspirational and offer consumers new reasons to shop in their stores.
He hopes to create new highly-valued brands, rather than selling products emblazoned with the name of the supermarket. These will add to existing labels, such as their clothing line F&F and their consumer electronics brand Technika, which are sold around the world.
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.