- Prachi Singh |
Tesco Group Plc and Carrefour have jointly announced that both plan to enter into a long-term, strategic alliance covering the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. The companies said in a joint-statement that it will be governed by a three-year operational framework.
Commenting on the development, Dave Lewis, Tesco Group Chief Executive, said in a statement: “By working together and making the most of our collective product expertise and sourcing capability, we will be able to serve our customers even better, further improving choice, quality and value.”
“This strategic alliance between Carrefour and Tesco is a major agreement as it combines the purchasing expertise of two world leaders, complementary in their geographies, with common strategies. This international alliance further strengthens Carrefour allowing it to reach a key milestone in the implementation of its strategy,” added Alexandre Bompard, Chairman and CEO of Carrefour Group.
Anticipated to be formally agreed within the next two month, the companies added that this alliance will enable both companies to improve the quality and choice of products available to their customers, at even lower prices thereby enhancing their competitiveness.