Tesco Stores (Malaysia)
Background/ History
Tesco Stores (Malaysia) Sdn Bhd was incepted on 29 Nov 2001, as a strategic alliance with local conglomerate, Sime Darby Berhad of which the latter holds 30% of total shares. Malaysia was selected as the next market of entry because of its growing economy with political stability, market size & GDP and its ability to grow.
The first Tesco store in Malaysia was officially opened in May 2002 in Puchong. The opening of Tesco changed the consumer demand as well as brought new standards in retailing. This spurred both big and small retailers to be efficient and competitive with the end result of benefiting Malaysian consumers.
The second store in Malacca was opened in October 2002, followed by the opening of the Klang Bukit Tinggi store in December 2002, the Mutiara Damansara store in March 2003, Sg Petani store in December 2003, Penang store in November 2004, Ipoh in January and Shah Alam in July 2005. We have also launched Tesco Banting, Tesco Express Selayang, Ipoh & Kuantan in 2005.
Tesco offers Malaysians a complete one stop shopping for their needs - fresh food to groceries from household needs to apparel. Tesco carries a total of 86,000 lines of products including more than 1,300 Tesco branded items.
Tesco was founded in 1924. Over the past 81 years, as the retailing market has changed, the company has grown and developed, responding to new opportunities and pioneering many innovations.
The brand name of Tesco first appeared on packets of tea in the 1920s. The first store opened in 1929 in Burnt Oak, Edgware in South East London
By the early 1960s, Tesco had become a familiar name. As well as groceries, the stores sold fresh food, clothing and household goods. The business ...