According to an article published yesterday in the Financial Times Tesco, is preparing to launch the first in a series of much anticipated new Private Brands over the next few weeks as it seeks to leverage its Private Brand portfolio to improve its performance.
Philip Clarke, the new chief executive, is expected to launch the new brands in both the food and non-food businesses. The new brands will break from the established predominant Tesco Private Brand Strategy and develop unique and ownable names and positioning separate from Tesco.
Earlier this month, Mr Clarke said he was planning to create new brands as part of his strategic blueprint. He cited the success of Florence & Fred, Tesco’s clothing brand, and Technika in electronics.
But he said he could “create some other ones. This will give customers another reason to come and shop with us”.
He was particularly keen to shake up the group’s non-food ranges, which were not up to scratch. In the non-food business, Clarke has brought Terry Price, a Tesco and Walmart veteran, back from China to the UK to lead Tesco’s general merchandise business. However Clarke said he would also look at introducing new Private Brands into its food business.