Clarke to take Tesco forward with new brands

Philip Clarke: Tesco boss pledges to create highly valued brands
Philip Clarke: Tesco boss pledges to create highly valued brands

New Tesco chief executive Philip Clarke has pledged to create "highly valued" brands to grow Tesco, in a strategy presentation that he painted as "a slight change of emphasis", rather than a "change of direction".

In a video presentation placed on Tesco's website, Clarke promised: "Tesco is going to be a creator of highly valued brands."

He said he wanted the Tesco brand, and other "fascia" brands in other countries, such as Kipa in Turkey, to be valued brands.

He then added: "But I also think we can create some other ones. F&F, the clothing brand, Technika our television brand. These will give customers another reason to come and shop with us, another reason to be loyal to us."

The new chief executive, who took over from Sir Terry Leahy in January, said he wanted to build on the relationship the supermarket already had with its consumers and make it a multi-channel relationship.

Clarke said he wanted to take Tesco from being a business "which is respected by many, to one that is admired".

The new strategy was first revealed by Clarke in Tesco's results presentation last month, when he admitted that Tesco's UK performance had been "below par".

Tesco has been on the back foot in grocery, notably abandoning its pledge to offer double-the-difference refunds if customers find products cheaper in Asda, but continuing its expansion into non-food sectors by buying IPTV service Blinkbox for under £10m in a deal last month.


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