Now, after the failure of the Fresh & Easy expansion in the US and a challenging accounting scandal, Tesco is exploring the sale of the Homeplus unit to reduce corporate debt and refocus on its other business interests. Private equity firms are preparing to bid, and the Hyundai Department Store group may bid, as well.
Despite this reduction in global retail reach, Tesco's retailing strategy still includes non-UK operations in India, Malaysia, Czech Republic, Hungary, Ireland, Poland, Slovakia, China and Turkey. It also offers financial services and marketing research services.
What does the Tesco brand stand for? The corporate site explains:
Today, our brand must be about more than simply function. It’s about the way we work, the values we live by, the legacy we leave. We can’t solve the world’s problems but we want Tesco to always do the right thing, to inspire and to earn trust and loyalty from all of our stakeholders.
