| Tesco set to launch flagship clothing store |
By: Danny Morgan
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Posted: Friday, July 9, 2010 10:24 am
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Updated: In response to the speculation that Tesco is looking to launch a standalone F&F store in the West End, a Tesco spokesperson has denied that this is the case stating: “We're always looking for new development opportunities but we have no specific plans for an F&F store in the UK.”
In a bid to take on value clothing chains such as Primark and Topshop, Tesco is looking to open a flagship standalone clothing store in London's West End.
The store would be branded under F&F, previously Florence & Fred, in an attempt to succeed where competitors have failed. In 2008 Asda closed its standalone George high street stores after a four-and-a-half year trial.
The supermarket giant has already looked at potential sites and is thought to want a store near the size of 6,000 sq ft.
Tesco is currently the fifth in the value clothing sector with 10.4 percent of the share. However, with the sector worth near £9.3bn there is plenty of room for growth and expansion. Tesco's clothing division currently has annual sales of over £1bn.
Speaking with Drapers magazine, Tesco consultant Terry Green said: "We're looking for a store in the West End as a flagship for F&F. It will be a one-off to showcase the brand and complement our online and supermarket offer." |
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