Tesco has decided to enter into a long-term, strategic partnership with Carrefour governed by a three-year operational framework.
The strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale will be covered by the alliance.
Empowering both companies to improve the quality and choice of products available to their customers, the alliance will offer even lower prices thereby enhancing their competitiveness. Both companies will be allowed to strengthen their relationships with their suppliers by way of the agreement, creating significant opportunities for those suppliers. At a local and national level, work with supplier partners will be continued by each company.
Within the next two months, it is expected that the alliance will be formally agreed and, both parties will start to work towards realizing the benefits, following formal agreement.
Dave Lewis, Tesco Group Chief Executive, said, “I’m delighted to be entering into a strategic alliance with Carrefour. By working together and making the most of our collective product expertise and sourcing capability, we will be able to serve our customers even better, further improving choice, quality and value.”
“This strategic alliance between Carrefour and Tesco is a major agreement as it combines the purchasing expertise of two world leaders, complementary in their geographies, with common strategies,” said Alexandre Bompard, Chairman and CEO of Carrefour Group. “This agreement is a great opportunity to develop our two brands at the service of our customers. This international alliance further strengthens Carrefour allowing it to reach a key milestone in the implementation of its strategy.” PWKD05072018