Tesco to open 750 new stores in Thailand
Tesco plans to roll out 750 new stores in Thailand in the short-to-medium term, as it ramps up its investment in Asia, as part of its multi-year turnaround plan. Tesco’s Thailand arm – Tesco Lotus – will open the convenience store-style locations, taking the local store to more than 2,000. There are currently 1,583 Tesco stores in Thailand.
Tesco has been focusing on Asian investment, targeting the Chinese and South Korean markets, as competition in the UK supermarket segment intensifies. Tesco outlined the new Thailand store expansion during the group’s Capital Markets Day presentation to analysts and investors.