Tesco doesn't seem to like being boring old Tesco any more, as in addition to its aisle-stacking budget spin-off Jack's it's now planning an upmarket version of the chain designed to compete with Waitrose and M&S.
The plan is at the drawing board stage at the moment, with Tesco's chief executive Dave Lewis punting the idea of launching a standalone "Finest" chain stocking its supposedly higher-end own-brand products. The outlets would carry the Tesco Finest name, with Lewis explaining: "Tesco Finest as a brand is one of the largest food brands in the country. We have a very high percentage of more upmarket customers. The opportunity to curate that range and bring new things in a more convenient outlet is something that we have tested, is something we're interested in."
He's had it selling beans and one type of cheese to the likes of us, and wants the posh people in 2019 SUVs to roll in from the M&S Simply Food down the road. He has more in common with them anyway, seeing as his personal pay package was £4.6 million last year. He doesn't need to go shopping after dark when the discount labels go out. [BBC]
Image credit: Tesco