Tesco will supply goods to Tata as it plans to open grocery stores in India
On Tuesday Tesco declared that it will release wholesale grocery stores in India that would supply goods to Tata Group owned hypermarkets. Tata group is an Indian corporation and Tesco is a leading British retailer. In a statement chief executive of the group stated that for Tesco it is another thrilling expansion.
He added that it would provide access of other leading economies of the world as well as harmonize the entry into China and the United States. Many of the Indian business will get benefit of improved range, value and services due to its cash-and-carry design. To develop wholesale business Tesco planned to invest around 60 million pounds or 114 million dollars in the period of two year. The company said that the business will gain from over a decade of know-how of setting up local businesses in global markets.
Trent the retail arm of Tata group and Tesco were entering into an exclusive franchise agreement in which Trent will pay for technical and retail support by the Tesco. Trent has four Star Bazaar hypermarkets presently and desire to expand it to 50 over the next five years. Group’s chief executive expressed that they are very pleased to work with Tata Group.
