Tesco to enter the US retailing market

Tesco to enter the US retailing market

UK’s retailing giant Tesco now plans to enter the cluttered American market. The company is planning to open its first US stores later this year.

A company spokesperson said that they are planning to open several stores in the western states.

These stores would be opened under the “Fresh and Easy Neighborhood Market” brand name. The first store is likely to be opened in Arizona State.

For this establishment, the company has already secured 20 sites around Phoenix, Ariz., for its initial stores.

Tesco’s US chief executive Tim Mason said in a statement on their plans: “Our Company has enjoyed strong success in countries throughout Europe and Asia, and we are excited to bring that success to America. We believe the Greater Phoenix area is an excellent place to begin that journey.”

US is one of the most competitive retail markets with big existing players including Wal-Mart Stores, Costco and Safeway. It would be interesting to see if Tesco can survive in such a saturated market.