British retail chain Tesco has big plans with its clothing brand F&F and wants to launch it through franchising in countries where it currently has no hypermarkets.
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).