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Tesco Finest is now UK’s biggest brand says new UK boss Richard Brasher

Tesco commercial and trading director Richard Brasher, set to become the retailer’s new UK CEO when the company reorganises under new big boss Philip Clarke, let slip that Tesco Finest was now the UK’s biggest brand yesterday when he was showing analysts around a new store in the north west that will be one of the first to offer Argos-style in-store ordering.

Depends how you define a brand of course, Finest is nowhere near as big as the overall Tesco brand which turns over between £30bn and £40bn in the UK but it’s a good indicator of how well it and historic rival Sainsburys have invaded traditional Marks & Spencer territory in terms of posh eat-at-home food and, in so doing, hugely expanded the category (and their margins).

Brasher also defended the company’s practice of counting money-off voucher redemptions as cash sales, which none of its rivals do. Having just doubled its Clubcard points some analysts think this will add two per cent to Christmas sales which are expected to exceed £5bn.

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