Tesco is to launch a series of new brands over the next few weeks as it seeks to bolster its UK performance.
According to the Financial Times, group chief executive Phil Clarke will launch the brands in both the food and non-food business. They will be Tesco-owned brands, but will not be branded with the Tesco name.
Earlier this month, Clarke said he wanted to create new brands as part of his new strategy. At the time he cited the success of its clothing brand F&F.
Clarke admitted earlier this year that Tesco’s performance in the UK was “below par”.
In the non-food business, Clarke has brought Terry Price, a Tesco and Walmart veteran, back from China to the UK to lead its general merchandise business.