Tesco Lotus – Tesco in Thailand
Tesco Lotus is currently our second largest international business, serving over 11 million customers every week in over 1,400 stores.
Price and value are important to our customers in Thailand, so we have responded by keeping prices low and helping shoppers to deal with increases in the cost of living. Clubcard is popular and has attracted over 9 million members, who benefit from special reward offers and discounts on their shopping. Customers also like our Express stores, particularly in Thailand’s growing cities, where busy shoppers like the convenience they offer.
We launched our dotcom business in Bangkok in 2013. Modelled on Tesco’s successful and popular scheme in the UK, which is now being rolled out across all our international markets, our online business allows customers in Bangkok to shop from the convenience of their own home or mobile device.
Tesco has long seen Thailand as a prime sourcing destination and exports the best of Thai goods throughout the world. In 2012, we exported THB 13.5 billion worth of products and have pledged to increase exports to THB 15 billion by the end of 2013. As a strong supporter of Thai exports, Tesco provides opportunities for suppliers of all sizes to export their products to our global network of 6,500 stores across 12 countries.
In a further step to take local products global, we’ve also run a ‘Taste of Thailand’ promotion in partnership with the Thai government for the last six years, promoting Thai exotic fruit to customers in our UK stores.
In March 2012 Tesco listed the Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) on the Thai Stock Exchange. The listing in March 2012 was Thailand’s largest ever property fund IPO and raised over THB 18.4 billion. Following another successful transaction at the end of 2012 where we added 5 additional properties to the Fund, taking the total number of assets to 22 high quality Tesco Lotus-anchored shopping malls, TLGF is now Thailand’s largest property fund.
The funds raised have allowed Tesco to re-invest money back into the Thai economy and allow local investors to share in the success of the business. We have used the funds to invest in new stores as well as refurbishing existing stores and shopping malls.
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