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Retail

Tesco To Expand Business In Thailand: Reports

UK retailer Tesco is planning to open 750 convenience stores in Thailand over the next three years, according to a report in This is Money.

The expansion will be carried out under the leadership of chief executive, Dave Lewis, who believes that the country offers a huge potential because of its young, urban, and affluent population.

Tesco first made inroads into the country in 1998 after buying a stake in Lotus Supercenter.

Tesco Lotus is one of the biggest markets for the retailer outside the UK, and it reported a total group sales of £63.9 billion in 2018, the report said.

The retail giant now operates 1,965 Tesco Lotus stores in the country with 46,000 full-time employees.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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