Supermarket chain Tesco is poised to take on ‘value’ retailers
Primark and George at Asda with plans to open a standalone clothing store for its F&F brand in central London.
Potential locations include Oxford Street and High Street Kensington for the supermarket’s clothing division, which reported annual sales of over £1 billion for the first time in the year to the end of February.
According to Verdict Research, Tesco ranked joint fifth in the market share in 2009 behind Primark, George, TK Maxx and New Look, with a 10.4% shareholding of the £9.3 billion value clothing sector. High hopes will therefore rest on seizing a market share from its rivals and on boosting brand awareness.
The chain will also have high hopes for West End longevity after witnessing rival Asda close its chain of George high street shops in 2008 due to low sale returns to cover the premium rent in London’s West End.
Terry Green, Tesco consultant and former clothing boss, told Drapers magazine: "We're looking for a store in the West End as a flagship for F&F. It will be a one-off to showcase the brand and complement our online and supermarket offer."
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