Tesco in Turkey
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Case Code: BSTR407 Case Length: 15 Pages Period: 2002-2011 Pub Date: 2012 Teaching Note: Not Available |
Price: Rs.500 Organization: Tesco Plc. Industry: Retail Countries: UK, Turkey Themes: International Business, Globalization |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
Tesco was founded in 1919 by Jack Cohen (Cohen), who invested his serviceman's gratuity of £30 in a grocery stall. The first private label product introduced by Cohen was Tesco Tea. The name Tesco was a combination of the initials of the tea supplier TE Stockwell, and the first two letters of Cohen's name. Tesco opened its first store in 1929 in Edgware, London, and incorporated it in 1932. By 1939, it had around 100 stores across the United Kingdom.9 In 1947, Tesco Stores (Holdings) Limited was floated on the Stock Exchange with a share price of 25 pence and the first supermarket was opened in 1956 in Maldon, Essex.
The first Tesco superstore11, with an area of 90,000 square feet, was opened in 1967. The company's driving force was the idea: 'Pile it high and sell it cheap.' Though this strategy helped to attract a large number of customers, it also served to brand it as a store for middle class customers and to give it a low-end image. By the 1970s, shoppers no longer found Tesco's 'Pile it high, sell it cheap' strategy appealing. People were getting richer and were looking for more expensive and luxury items. Tesco's fortunes took a turn for the worse and the expression "doing a Tesco," came to be considered as equivalent to failure....
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