Tesco eyes global affordable fashion dominance for F&F brand Can challenge H&M, Primark, George through global store, online expansion UK supermarket giant Tesco wants to become “the world’s leading retailer for affordable fashion taking on the largest established clothing specialists. The world’s third largest retailer hopes F&F, which sells in 450 UK Tesco stores and 16 countries worldwide, can vie with value giants including H&M, Primark and George at Asda through an increased global store presence and by attracting new digital shoppers. H&M has global sales of £11.7bn, reflecting the scale of Tesco’s challenge. Tesco is only fourth in the UK value fashion market, with a 10% share, less than half that held by market leader Primark, according to Verdict. F&F UK sales exceeded £1bn in the year to February 23. Online clothing director Emily Shamma told Retail Week: “We want to be the world’s leading retailer for affordable fashion. It’s ambitious but realistic. Any market we want to enter we can do through franchises. I do not think there is any limitation to what we can do.” “We are very strong in central Europe, Shamma added. Tesco this week revealed it has expanded F&F’s European franchise arm. It has opened two standalone stores, including its first kids-only shop, in Gibraltar. It has also opened seven concessions in Switzerland in Coop department stores and hypermarkets. F&F, which is on sale across Europe, the Middle East and Asia, is scoping out European markets in which to launch a local transactional website next year. Poland and the Czech Republic are the most likely countries. Tesco also opened its first dedicated F&F womenswear shop-in-shop, designed to build its fashion credentials, in its West Kensington, London, store this week. However, the retailer does not have plans for UK standalone F&F stores at present but head of creative design Paul Andrews did not rule it out. Tesco will have revamped 100 of its F&F shop-in-shops by the end of November.
Posted on: Mon, 28 Oct 2013 23:51:22 +0000
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