Once again we echo the expansion plans of one of the large supermarket chains worldwide, involving strengthening its presence in China. More specifically, it has been made public that the British supermarket chain, Tesco, has closed an agreement with China Resources Enterprise (CRE) to set up the largest retail food distribution chain in the Asian giant.
As a result of the agreement, CRE, which has around 3,000 outlets in the country, will own 80% of the new chain, while Tesco, which has 131 sales points, will have a 20% participation. This new company will draw together Tesco’s international supply and multi-channel capacity with the local and brand know-how of CRE, which has a considerable influence in the Asian market.
As far as seafood is concerned, CRE currently offers national sourced products. Based on the premise that international supply is one of the main objectives for this alliance, we feel certain that this association will not let the opportunity pass by to offer a wider range of fish and shellfish to a population showing an increasing interest in such products.