TESCO plans to create new brands to spruce up its product ranges and appeal to increasingly aspirational shoppers across the world, its new chief executive said yesterday.
Phil Clarke, outlining his strategy, said Tesco would be online in all 15 of its markets this decade and, while it would continue to expand rapidly in its main British market, it would likely allocate a growing proportion of resources to its overseas businesses.
“It is a change of gear, not a change of direction,” said Clarke, who will present the strategy to 5,000 managers in 21 meetings across the world over the next 12 weeks. New, however, is a goal to create “highly valued brands”. He said the brands would not have Tesco emblazoned on them.