Get all your news in one place.
100's of premium titles.
One app.
Start reading
Daily Mirror
Daily Mirror
Business
James Andrews

Tesco to open incredible 750 new stores creating 10,000 new jobs - in THAILAND

Tesco plans to open an incredible 750 new stores in Thailand over the next three years, along with almost 10,000 jobs.

The British supermarket has tried and failed in many countries across the world - but Thailand has been a success story for it.

Stores in the US, China, South Korea and Japan have all shut, after former chief executive Sir Terry Leahy's plans there failed to bear fruit, but it's still serving more than 15 million customers every week in Thailand.

Now current chief executive Dave Lewis is expanding the chain overseas again - focusing on one country where it is winning.

"The economics of the country [Thailand] are very attractive. There is a big emerging middle class," he explained.

Tesco (PA)

Tesco - which operates under the Tesco Lotus name in the region - already has a network of more than 2,000 stores across Thailand, along with online shopping platforms.

Tesco made £4.1billion of revenue in Thailand the year to February 23.

The supermarket's main competitor in the convenience market is Japanese-US business 7-Eleven - which is run locally under the CP-All brand. 

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.