China’s 125 Tesco stores will be rebranded under the China Resources’ Vanguard banner from this month, according to Inside Retail Asia.
China Resources bought a majority stake in Tesco’s China business last year, adding to its 4,100 Vanguard-branded stores already operating in the People's Republic.
“The decision to change the brand was based on the overall perception in the market. Tesco is a globally recognised name, but Vanguard is better known and well-received in China,” CR Vanguard CEO Hong Jie told China Business News.
The Vanguard stores will stock 761 Tesco-branded products, with both companies set to merge their supply chains, as well as launch an e-commerce site next month.
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