Tesco to start multi brand retail stores in India
The UK giant TESCO to open stores in India. Tesco has plans to invest $110 mn. TESCO is the first internation brand to apply for the Multi Brand Stores opening after the limit of 51% was extended to Multi brand sector.
It would be an intresting game to watch, how Indian competitors play now with this technicaly advance company.
TESCO is already present in Indian, they have partnership with TATA and operates stores in many Indian cities such as Bangalore, Hydrabad etc.
TESCO also have its backend support in India, the facility is located in Bangalore. The Bangalore unit provide backend process facilities to operation in UK.
Its going to bea tough fight for local retailers now. TESCO will not affect the business of Kirana or General stores but big brands like Big Bazaat, Central and Reliance etc are going to be the worst affected.
Thats a good and bad thing both. Good for consumers, as competition will imrpove the quality of services and also the new method of doing business will be introduced.
Bad for already established stores. Agree with pulkit that in short term Kirana and General stores will not have any effect of this launch.