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17 January, 2012

Tesco fashions F&F franchise concept

Tesco is today announcing a new franchise model for F&F as it looks to turn the fashion label into a major global brand.

The innovative F&F franchising model will see Tesco working with local partners to bring F&F to customers in a flexible range of settings, including stand alone stores within shopping malls and units within department stores and hypermarkets.

F&F clothing and accessories will first become available in Saudi Arabia later this year as part of a franchise agreement with retailer Fawaz Abdulaziz Al Hokair & Co (SJSC). Tesco is also exploring further franchise opportunities in other countries.

The move supports Tesco’s long-term strategy to grow highly valued international brands. Using the franchising model enables Tesco to accelerate the growth of its F&F brand on a much wider scale.

The F&F vision is to become the world’s leading brand of affordable fashion and it is already trading in 11 markets.

In just three years, it has become the leading fashion brand in Central Europe, recently launching its second stand alone F&F store in Brno, Czech Republic.  The stand alone stores have enabled Tesco to test and refine ideas on which the franchise format will be based.

Jason Tarry, CEO of F&F International said:

“The franchise model is a natural extension of the work we have been doing to turn F&F into a truly global fashion brand.

“We have in a very short time created a market leading fashion brand in Central Europe, now worth over GBP 400 million. Now we have the opportunity to grow our brand further, in markets where Tesco does not have a presence.

“Al Hokair is an excellent partner for F&F. It offers local expertise, knowledge and franchise experience that will really make a difference for local customers.”

Mr. Simon Marshall, Chief Executive Officer of Fawaz Abdulaziz Al Hokair & Co (SJSC) said:

“We’re delighted to be partnering with Tesco, and to be the world’s first franchise partner for F&F, which has the expertise and the brand equity to become a leading player both in Saudi Arabia and other markets globally.

F&F will augment and enhance our portfolio of international brands and has the potential to become one of the leading fashion brands in Saudi Arabia.”

The first F&F franchise is planned to open in 2012.  Based primarily on the core European F&F range, Tesco will work closely with Al Hokair to build a range of clothing that is ideal for the local market.

ENDS

Notes to editor:

Click here to view a short video of our F&F journey so far.

About F&F

F&F launched in the UK and Ireland in 2001. Today F&F is available in 11 countries.

Our goal is for F&F to become a destination international clothing retailer, delivering desirable affordable fashion for all.

For our Central Europe and Turkey operations we utilise a central team based in the UK which is responsible for buying, merchandising, marketing, finance and operations.

F&F range includes a number of sub-brands including:

- F&F Basics for everyday products at everyday prices

- F&F True for larger sizes

- F&F Blue for denim

- F&F Black for suits.

In 2010 we opened our first F&F stand alone store in Prague. Our second opened in Brno, Czech Republic, in November 2011.

About Fawaz Abdulaziz Alhokair & Co (SJSC)

The Fawaz Alhokair Group is the largest owner of shopping malls in Saudi Arabia and is today the largest franchise retailer in the MENA and CIS region with over 1100 stores across eight countries. In 2012, it will be further expanding its operation to 11 countries.

Alhokair operates franchises for over 80 retail brands including Aldo, Inditex (Zara, Bershka), Marks & Spencer, Gap, Banana Republic, Promod, Miss Selfridge, Monsoon, Wallis, Accessorize, Clarks, New Yorker and Nine West.

Most Alhokair stores are based in Saudi Arabia, but it also operates stores in Egypt, Jordan, Kazakhstan, Azerbaijan, United States of America, Morocco, Algeria and will begin trading in 2012 in Georgia, Armenia and Belarus. Today’s agreement relates specifically to Saudi Arabia.

In 2006 Fawaz Alhokair and Co (SJSC), referred to as ‘Fashion Retail’, partially listed on the Saudi stock exchange.

Saudi Arabia

Saudi Arabia is the leading economy in the Middle East with GDP of USD 623,109m and currently growing at approximately 6.7% per annum. The fashion market is worth approximately GBP 7 billion a year. The population of the country is just over 26 million, around 82% of whom live in the capital Riyadh and its suburbs.

For media enquiries please contact the Tesco Press Office on 01992 644645

For commercial F&F franchising opportunities please contact: marcus.chipchase@tesco-europe.com

For more information please contact the Tesco Press Office on
01992 644645

Tesco is the UK's largest retailer and one of the world's leading international retailers. Tesco has around 5,000 stores worldwide, employing over 500,000 people in the 14 countries in which it operates. Our core purpose is to create value for customers to earn their lifetime loyalty. Our success depends on people: the people who shop with us and the people who work with us.