Tesco launches first store in new discount chain Jack’s in Chatteris with a ‘Made in Britain’ pledge.
CRIMSON TAZVINZWA//The official launch of Tesco’s new discount store Jack’s is happening in Chatteris today (19 September 2018). Tesco Supermarket’s new discount store Jack’s rivals German budget giants Aldi and Lidl.
Up to 15 stores will open over the next year, with five existing Tesco properties being repurposed and the remainder being new outlets.
Most products will be Jack’s own brand and the chain will have 2,600 lines.
Chief executive Dave Lewis said: “(Tesco founder) Jack Cohen championed value for customers and changed the face of British shopping.
He’s an inspiration for all of us and that same spirit still drives Tesco now.
“It’s fitting that today, we mark the beginning of Tesco’s celebration of 100 Years of Great Value by launching a new brand, and stores bearing his name: Jack’s.”
It comes after the UK’s so called Big Four supermarkets – Tesco, Asda , Sainsbury’s and Morrisons – have taken a hammering at the hands of Lidl and Aldi.
The German duo have eaten up their market share by offering products at knock down prices.
Tesco is Britain’s grocery market leader with a share of 27.4 per cent, while Aldi and Lidl have increased their combined share to 13.1 per cent, according to the Kantar Worldpanel data.
Tesco said that eight out of 10 Jack’s food and drink products will be “grown, reared or made” in Britain and stores will stock an own brand range, also branded Jack’s.
It will operate a “low-cost business model” designed to keep costs low and prices down.
The launch of Jack’s is part of Tesco’s centenary celebrations which will see the business mark 100 years in 2019. Jack Cohen founded Tesco 99 years ago in 1919.