15th Apr 2014 05:56
LONDON (Alliance News) - British supermarket chain Tesco PLC will open the first franchise stores for clothing brand F&F in the US this year, just under a year after it had to leave the country with its Fresh & Easy grocery business.
F&F, which launched in the UK and Ireland in 2001, will be opening seven stores on the east coast of the US this year, Tesco said, in partnership with its US franchise partner Retail Group of America. It said the first store opening will be near Boston in May, followed by four stores in New York, and stores in Philadelphia and Newport.
Tesco said the stores will feature a full range of womenwear, menswear and kidswear.
Tesco has also furthered its partnership with Al Hokair in Europe and Central Asia by opening its first store in Armenia.
Its clothing brand F&F has already opened a number of stores in Saudi Arabia, Kazakhstan and Georgia in partnership with Al Hokair.
After a failed attempt to crack the US grocery market, Tesco sold its Fresh & Easy chain to YFE Holdings Inc last year. Yucaipa acquired more than 150 stores, as well as Fresh & Easy's Riverside distribution and production facilities. Tesco loaned the new business GBP80 million as part of the deal, secured against the Riverside Campus facility.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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