Retail major Tesco has outlined plans to open nearly 300 neighbourhood convenience stores modelled on Tesco Express across India.
The retailer will open the outlets by aligning the top management of its back-end unit with Trent Hypermarket.
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Trent Hypermarket is owned by the Tata Group. It is engaged in the business of multi-format retail trading in India including hypermarkets, supermarkets and smaller convenience stores.
In May 2014, Tesco acquired 50% stake in Tata Group firm Trent Hypermarket, the first foreign direct investment transaction in multi-brand retail since the sector was opened up in 2012.
"They are mostly targeting residential complexes to set up their new stores sized anywhere between 500 and 2,000 square feet," official was quoted by The Economic Times.
According to Trent’s annual report for 2014, "The response to this new format has been encouraging and we are considering possibilities of replicating this model in areas where larger Star Bazaars already operate.
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By GlobalData"The intent is simultaneously leveraging the supply chain gains of being proximately located to a Star Bazaar hypermarket store and at the same time being readily accessible to customers within dense catchments."
Currently, Tesco operates more than 1,500 convenience stores in small shopping precincts in residential areas and countryside in the UK.
