50 franchise shops over the next
five years
Tesco has confirmed it will open up fifty new franchise shops for its clothing line F&F, over the next five years.
“This announcement builds on the success of the first franchise stores and
demonstrates our commitment to growing the brand internationally through this
model”, says CEO Jason Tarry. The first shop will opened up this month in
Saudi-Arabia.
This year the first six have to be
operational. The second one is planned for next month in the capital of Kazakhstan,
Astana. After that other cities in Kazakhstan, Georgia, Armenia and Azerbaijan will
follow. F&F has expanded its cooperation with franchise partner Al Hokair
for this. For the Middle East F&F will work with a new partner, Al Futtaim
from Dubai.
F&F currently sells its clothes
in 12 countries. In Great Britain annual sales of F&F rose by 9% to over a
billion pound (about 1.2 billion euro).
