Retail industry lays out £500m growth plans

 
Kasmira Jefford
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THE GOVERNMENT yesterday announced some £500m of investment in Britain’s consumer industries, as some of the sector’s largest players laid out expansion plans in the UK and overseas.

Speaking at the British Business Embassy’s Retail, Food and Drink summit in London yesterday, Boots chairman Stefano Pessina said the pharmacist will expand its store estate in Thailand by at least 50 per cent to 300 units over the next three years.

Tesco Lotus, the supermarket’s Thai business, plans to open three distribution centres to support its 1,000 stores there.

The summit, which took place at Lancaster House, is one of 18 organised by UK Trade & Investment (UKTI) during the Olympic and Paralympic Games to showcase UK businesses.

Consumer giant Nestle also confirmed it will spend £500m in UK manufacturing facilities over the next three years as it moves its healthcare nutrition business from Croydon to Liverpool.

UK razor maker King of Shaves and traditional sweet maker William Santus & Co also separately announced contract wins in Turkey and Japan respectively.