New Delhi, Aug 12: Trent Ltd, the retail arm of Tata Group, on Tuesday, Aug 12 said it will soon enter into an exclusive franchise agreement with the UK's leading retailer Tesco Plc, and plans to open 46 stores across the country in the next five years.
Trent's hypermarket business-- Star Bazaar, offering a wide range of products like fruits, vegetables, home care, health and beauty products, apparel, home decor, gifts and household items, already operates four stores-- one in Ahmedabad and Bangalore each and two in Mumbai. With the deal, Trent will source merchandise for Star Bazaar from Tesco's planned wholesale cash-and-carry business in the country, a company statement said.
The agreement will also allow Star Bazaar to use Tesco's extensive retail expertise and technical capability.
''The franchise agreement will enable us to access Tesco's retail knowledge and expertise and will play an important role in our endeavour to offer a world class shopping experience to customers across the country,'' Trent Managing Director Noel N Tata said.
Tesco's wholesale cash-and-carry business will provide Trent with the opportunity to tap into a highly efficient supply chain, he added.