Tesco China – Tesco in China
On 9th August 2013, Tesco PLC and China Resources Enterprise, Limited announced that they have entered into a Memorandum of Understanding and are in exclusive talks to combine their Chinese retail operations to form the leading multi-format retailer in China. For more information, view the news release here.
China is a strategically important growth market for Tesco.
Our stores in China are located on the Eastern Seaboard in areas which have a total population of over 600 million – bigger than the entire EU.
Our physical presence in China comes mainly through our hypermarkets, although we have also have a small number of Express format stores. Our range of formats can be delivered using local knowledge to ensure that Chinese customers are provided with the service they need and the products they want. Our grocery home delivery service in Shanghai will allow us to meet the needs of the modern Chinese consumer, and we’ve also opened our first online store on Taobao’s Tmall website, China’s largest online retail site.
Our global brand strength is a key asset for us in China where customers are keen for reassurance on food quality. We have developed a strong reputation as a source of good quality, safe and affordable food by utilising our close relationship with suppliers and an expert food safety team, made up of quality control technicians and operational managers.
China is also a major sourcing location for the Group. Our international sourcing headquarters are based in Hong Kong, and we source more than 60% of all clothing and 40% of other non-food items through the global sourcing office. We currently buy around £2.25bn worth of goods and services from China for the Tesco Group every year.
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