Yes. Tesco PLC, indeed, is planning to enter in Pakistan. The British multinational grocery and general merchandise retailer has formed an exclusive partnership with Alpha Supermarket to launch its food and non-food products in Pakistan. According to the agreement, the retail giant will only supply its products to Alpha Supermarket, which the latter can sell in its stores in Pakistan.
The stable economic situation of the country has started to pay-off, as multinational companies are expressing their interest to invest in Pakistan. Experts believe that the projected growth of Pakistan’s supermarket industry in the following years presents an opportunity, which the retail giant could not ignore.
The announcement was made by the British High Commissioner to Pakistan Thomas Drew and Limestone Private Limited at the British Deputy High Commission in Karachi. According to the statement issued by the British Deputy High Commission on Wednesday, Tesco is one of the largest retailers of the world with its physical presence in 12 different countries across Asia and Europe.
Reports also indicate that Alpha Supermarket is gearing up to launch 50 express stores across the country in the next three years. The company plans to open its three flagship stores in the major metropolitan cities i.e. Lahore, Karachi and Islamabad. Considering the fact that Karachi is the largest city of Pakistan, Alpha Supermarket has already invested approximately $2 million in the city, an investment the company believes would double in the coming months.
“Tesco will only supply its products to Alpha Supermarket, with which it has the exclusive partnership in Pakistan. Tesco has not invested anything yet in this partnership, it may invest in the future but any future investment decision is up to its management.” said Limestone Pvt Ltd Chairman, Nadeem Hussain.
He further mentioned that Alpha Supermarket will launch its second flagship store in Lahore with initial investment of approximately $1 million. This year is particularly important to form such a partnership, as we are celebrating 70 years of UK-Pakistan relations, he said.