>>Tesco, the British supermarket, chain announces expansion plans for its clothing brand
MAY 27 (Conway Bulletin) – Consumer markets in Central Asia and the South Caucasus region are maturing, as Tesco, the British supermarket chain, has realised.
Or at least, consumer markets in some of the region’s countries are maturing.
Tesco’s clothing department, which trades under the brand name F&F, announced that it planned to open various franchise stores across the Middle East, Central Asia and the South Caucasus (May 20).
Specifically it said that F&F would open a store in Astana, the Kazakh capital by the end of June, to be followed by stores in Azerbaijan, Georgia and Armenia.
These will be opened through franchise agreements with Saudi Arabia-based Al Hokair and Dubai-based Futtaim.
The deal and Tesco’s intention to expand across Central Asia and the South Caucasus is important as it acts as further evidence that consumer demand in these markets is changing.
Long associated with the luxury market, Western high street brands have moved into Kazakhstan, Azerbaijan, Georgia and Armenia, over the past couple of years and now, with the arrival of Tesco, it appears that discount brands are following.
ENDS
This story was first published on May 27 in issue 136 of The Conway Bulletin