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SUPERMARKETS giant Tesco, with a strong year of Asian growth under its belt, is poised to expand its operations into Japan. 'It's been on the radar screen for a couple of years now and we have research teams looking at opportunities in both Japan and China,' confirmed a Tesco spokesman.
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Tesco Lotus, the company's Thai unit, has seen strong sales growth over the past year in the face of hostility from the country's small shopkeepers and the threat of government curbs on the operation of foreign retailers. Having overcome those difficulties, it is now set to expand.
Tesco Lotus has 41 superstores and executives from the company have said that it plans to open at least nine more in the coming year. The group's performance in Thailand highlights the potential in Asia for Western retailers. Earlier this month US giant Wal-Mart announced that it was taking a controlling stake in Japan's Seiyu supermarkets chain. Carrefour of France, also with an extensive Thai operation, opened its first hypermarket store in Japan this year and Germany's Metro opened its first cash-and-carry there this month.
Gwyn Sundhagul, Tesco Lotus senior vice president in charge of operations, said Tesco Lotus expected sales this year to exceed the £686m it posted last year. 'Our overall performance this year has been positive. Sales in 2002 are well on course to exceed by some margin the overall figure for 2001,' he said.
Tesco Lotus is a joint venture between Tesco and CP Group, Thailand's largest agribusiness group. Tesco Lotus has about 31% of the market, while Big C Supercentre, part of France's Casino group, has 24% and Carrefour 15%.
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