What is TESCO? TESCO Review

TESCO is a large supermarket chain in the UK. It is currently the largest retailer in the UK and the third largest supermarket group in the world after Wal-Mart (USA) and Carrefour (France). Tesco started out by selling food and gradually expanded into clothing, electrical appliances, customer financial services, Internet services, auto insurance and telecommunications.

About TESCO

TESCO was founded in 1919 and its original form was a small stall set up by Mr. Jack Cohen in the market.

TESCO currently has nearly 6,000 stores worldwide, with a total of approximately 520,000 employees, and provides services to tens of thousands of customers around the world every week.

In addition to the UK, TESCO also operates in 12 other countries, including the Republic of Ireland, Hungary, the Czech Republic, Slovakia, Poland and Turkey in Europe, China, Malaysia, South Korea, Thailand and India in Asia, and the United States.

TESCO Group's business not only includes retail, but also involves finance, gas stations, telecommunications and medicine, and has gained a good international reputation. In addition, TESCO is also actively expanding its online retail business, which is currently popular among customers.

Company operation form

British TESCO companies are divided into five forms:

1. Tesco Extra is a large warehouse store of Tesco, where all the products sold in the supermarket can be bought. The first Tesco Extra opened in 1997, and by the 2004/05 fiscal year, there were 100 Tesco Extra stores in the UK. Generally speaking, the area of ​​a Tesco Extra store is about 6,300 square meters. A Tesco Extra Extra opened in Slough in January 2006, covering an area of ​​about 18,300 square meters, became the largest Tesco Extra store in the UK.

2. Tesco Superstores are Tesco's standard supermarket format, mainly selling food and a small amount of non-food products. It is Tesco's most common store and also its main source of income.

3. City store (Tesco MeTRO) is a store format between TESCO standard store and convenience store, usually located in the city center or main street.

4. Tesco Express is a small-scale store that mainly sells food and is widely distributed in busy urban areas or shopping districts. As of February 2006, there are more than 650 Tesco Express stores in the UK.

5. One Stop is the only store that does not use the name "TESCO" and is the smallest store. They are usually some small retailers acquired by TESCO but are allowed to retain their original names.

develop

-On April 17, 2013, TESCO announced its withdrawal from the US market and the sale of 199 Fresh & Easy stores in the US.

-On September 1, 2014, Dave Lewis (formerly from Unilever) took over as CEO.

- Tesco sold its Blinkbox music streaming service to Guvera on 26 January 2015 and confirmed that it would shut down its Blinkbox BoOKS service at the end of February 2015.

-On January 29, 2017, TESCO announced that it would acquire Booker, the largest wholesaler in the UK, for 3.7 billion pounds (about 4.64 billion US dollars).

-In April 2017, Tesco confirmed the sale of its in-store optician business to Vision Express.

-On March 5, 2018, TESCO and Booker, the largest wholesaler in the UK, said that TESCO has completed its 4 billion pound (5.51 billion US dollars) acquisition of Booker.

China Business

In 2004, TESCO entered the Chinese market by cooperating with Ting Hsin International Group, which owned 25 Tesco supermarkets at the time. At the end of 2006, TESCO increased its stake from 50% to 90%. At the end of 2009, TESCO acquired the remaining 10% stake from Ting Hsin International Group, achieving full control of the Chinese business. In addition, TESCO began to purchase land and build commercial real estate projects in 2008. TESCO adopts a development strategy that combines rental real estate and commercial real estate in China. TESCO's real estate project in China is named "Le Du Hui Shopping Center".

As of early February 2013, there are 115 Tesco hypermarkets, 1 Tesco World hypermarket, 8 Tesco shopping centers and 14 convenience stores in the pilot stage in 48 cities in China, with a retail area of ​​more than 800,000 square meters, more than 26,000 employees, and more than 4.4 million customers served every week. Tesco currently has two series of own-brand products, "Value" and "Standard (Tesco)". Tesco officially announced its entry into China's e-commerce field in July 2013, launching tens of thousands of food and daily necessities including fresh fruits and vegetables.

E-commerce business

TESCO officially entered the Chinese e-commerce field in July 2013. Tesco's e-commerce launched tens of thousands of food and daily necessities including fresh fruits and vegetables. The delivery range in the initial operation covers some areas of Shanghai. All goods will be picked and shipped by Tesco's existing stores in Shanghai.

Global ranking

On July 19, 2018, the Fortune Global 500 list was released, with Tesco ranking 102nd;

In December 2018, the World Brand Lab published the "2018 World's Top 500 Brands", with Tesco ranking 116th.