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Sainsbury ponders expansion in China
J SAINSBURY has sent a team to China to decide whether the supermarket group can begin a war on a new front with its arch-rival Tesco.
Senior executives met with officials from China’s Ministry of Commerce when they visited London this week.
Darren Shapland was moved from finance director to a business development role at Sainsbury in June, charged with looking at possible overseas expansion, among other moves.
A Sainsbury spokesman told City A.M. the company’s position had not changed since June, when it said it would conduct fact-finding missions overseas, but that it had no short or medium term aspirations to open stores there.
Tesco has plans to invest £2bn in Chinese mall stores over the next five years.