Tesco and Carrefour plan alliance that will rival Amazon in sales
Tesco and Carrefour plan alliance that will rival Amazon in sales
Tesco plans to work with French giant Carrefour
03 July, 2018, 14:36
Carrefour, Europe's largest retailer, makes the bulk of its 88 billion euros ($102.5 billion) worth of sales in Europe and Brazil while Tesco operates in Britain, Ireland, eastern Europe, Malaysia and Thailand, and has a wholesale presence in India.
The companies said in a statement o Monday that the three-year deal will cover their relationship with suppliers and include joint purchasing of the stores' own-brand goods. This followed a deal previous year between Casino and grocery e-commerce tech provider Ocado Group Plc (OCDO.L).
The move comes as retailers face an increasingly competitive environment.
The grocery sector in the United Kingdom is now going through a period of rapid change. Tesco itself recently completed the purchase of wholesaler Booker, and in April, Sainsbury's said that it was in advanced talks to buy Asda from United States retail giant Walmart.
The announcement marks the latest reinvention in an industry that is grappling with the rapid move online, competition from discount groups such as Aldi and Lidl and the looming shadow of USA internet giant Amazon (AMZN.O).
Last year, Amazon bought upmarket grocer Whole Foods.
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"Another price war is now looming in the United Kingdom supermarket sector", said Laith Khalaf, senior analyst at Hargreaves Lansdown.
He said: "This is more of a direct response to Aldi and Lidl, whose offers are heavily weighted towards own-brand".
Michael van Dulken, head of research at Accendo Markets, said: "The likelihood is that today's announcement is focused more on protecting wafer thin margins than benefiting consumers, knowing that brand loyalty is strong".
Other European rivals are similarly scrambling to reduce supply costs. It compares with a 0.9 per cent increase in the fourth quarter.
In January, Carrefour announced a major transformation plan that involved making cost cuts of €2bn by 2020, and investing €2.8bn in e-commerce by 2022.
Tesco boss Dave Lewis said: "I'm delighted to be entering into a strategic alliance with Carrefour".
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