Tesco PLC – United Kingdom’s (UK) largest and the world’st third largest retailer has allianced with Alpha Supermarkets in Pakistan to introduce its food and non-food products in the country.
Alpha Supermarkets plan to open 50 Express Stores in the country in the next three years, including three flagship stores in Karachi, Lahore and Islamabad. The company has already invested $2 million mainly in its Karachi’s store and it believes the investments will double in the next coming months.
Nadeem Hussain, Chairman Limestone Pvt Ltd while talking to media at the British Deputy High Commission on Tuesday, said that Tesco products will be placed only at Alpha Supermarkets – its exclusive nationwide partner. He further added, “Tesco has not invested anything yet in this partnership, it may invest in the future but any future investment decision is up to its management.”
Hussain further added that Tesco’s partnership with Alpha Supermarkets is the reflection of its views about Pakistan, a country with over 30 million people, with considerable disposable income.
“Pakistan’s retail market is all set to grow faster in coming years. The country’s role in the global retail market will also be growing due to its widening middle class and large population,” said Director and CEO of Alpha Supermarkets Adnan Hamid.
Hamid also revealed company’s plans of opening its second flagship store in Lahore at an investment of over $1 million.
British High Commissioner to Pakistan Thomas Drew CMG said that this partnership between a Pakistani company and Tesco shows the confidence of British investors in Pakistan’s economy. He further added that the alliance will further improve the economic relations between the two countries.
Head of New Market Tesco Stores Limited Jared Lebel commented that Pakistan and the UK have strong economic links already and he envisions them improving in the coming years.
