China 'difficult' for any global brand, not just Tesco
Just four months after pulling out of America, Tesco could reduce its stake in Chinese stores by merging with the state-run China Resources Enterprise (CRE).
The venture would combine Tesco's 131 stores with almost 3000 Vanguard stores, with CRE controlling 80% of the new chain. So why has Tesco's global expansion not gone exactly to plan?
Bryan Roberts, lnsights director at Kantar Retail, believes that the Chinese market is incredibly tough for any international brand to do business in.
He told BBC Radio 5 live's Wake Up to Money: "It's an incredibly difficult market and Tesco is just the latest in a long list of international retailers who've come away... with their tail between their legs".
09 Aug 2013
- From the section Business