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Tesco signs Saudi franchise partner for F&F clothes
Tesco, the world's No.3 retailer, announced a franchise deal with Fawaz Abdulaziz Al Hokair & Co, the largest owner of shopping malls in Saudi Arabia, as part of a drive to transform its F&F clothing range into an international fashion brand.
January 17, 2012 3:07 by Reuters
The British supermarket group, which currently sells F&F in 11 markets, said on Tuesday it was looking for franchise partners in other countries as well.
“The franchise model is a natural extension of the work we have been doing to turn F&F into a truly global fashion brand,” said F&F International Chief Executive Jason Tarry. “Now we have the opportunity to grow our brand further in markets where Tesco does not have a presence.”
The group, which issued a shock profit warning last week, is looking to build a number of international brands to appeal to more aspirational shoppers, including Technika in electronics and Parioli in Italian foods.