Economy

Tesco launches Jack's discount chain and own brand

Tesco launches Jack's discount chain and own brand

Tesco has launched its new discount store format called Jack's as it attempts to take the fight to German discounters Aldi and Lidl.

The first two stores are set to open on Thursday in Chatteris, Cambridgeshire, and Immingham at formerly "mothballed" Tesco sites.

Staff at existing Tesco stores slated for conversion have all been offered roles either at a Jack's or a Tesco but some have opted for redundancy.

Tesco said that eight out of 10 Jack's food and drink products will be "grown, reared or made" in Britain and stores will stock an own brand range, also branded Jack's. Articles appear on euronews.com for a limited time.

Aldi and Lidl, respectively the fifth and the seventh sign in the United Kingdom, have a market share to two of 13.1%, according to figures from the firm Kantar for the beginning of September, compared with 27.4% for Tesco, which has significantly eroded in recent years.

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The Cambridgeshire shop was originally planned for a Tesco site, with further stores opening on a mix of new sites and spots adjacent to Tesco stores, as well as a number of converted Tesco stores.

"Chief executive Dave Lewis said in a statement: "(Tesco founder) Jack Cohen championed value for customers and changed the face of British shopping.

Britain's biggest retailer Tesco (TSCO.L) is going head-to-head with fast-growing German discounters Aldi and Lidl on price with a new grocery store it says will be the cheapest in town.

You've got to hand it to Dave Lewis - the decision to launch a new chain of budget stores is certainly ballsy.

Tesco has also revealed Jack's will operate on a low-priced business model, with a "no fuss" approach, simplified range of products, "no fancy fixtures or fittings" and no added extras.

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TESCO has thrown its hat into the discounter ring with the launch of new store brand, Jack's.

Scores of jobs have been created in Chatteris as Tesco opens its first Jack's discount store.

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We met John, who has worked at Tesco since 2007, in the carpark. New data reveals that the pair have doubled their market share to a touch over 13pc. Not. In fresh produce, Jack's will offer a Fresh Five of discounted items on fruit and veg, similar to Aldi's Super 6.

"With its heavy Union Jack branding and promises on provenance Jack's is clearly looking to make its name as a solid British retailer".

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