Tesco agrees £85m Tata deal to open retail stores in India
Tesco has revealed plans to run 12 retail stores in India, after forging a joint venture with Indian conglomerate Tata Group.
Tesco will operate 12 retail stores under the Star Bazaar brand
The supermarket chain will invest around £85m in a partnership with Tata-owned Trent Limited, which already operates the Star Bazaar retail brand in the country.
Tesco became the first global retailer to be granted approval to open in
Trent Hypermarket Limited, in which Tesco will own a 50% stake, will operate 12 stores across the Southern and Western regions of
Tesco has provided service supprot to Star Bazaar since 2008 under a franchise agreement.
It follows the decision by Tesco to sell its loss-making
Separately, last month Tesco chief executive Philip Clarke revealed a new strategy to return the supermarket brand to growth in the
This article was first published on marketingmagazine.co.uk
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