British supermarket giant Tesco-Lotus is evaluating opening 750 new stores in Thailand over the next three years, bringing along with it almost 10,000 jobs. Tesco already has a network of about 2,000 stores across Thailand, along with online shopping platforms. This expansion would expand the company’s overall network by about 50 per cent.
Tesco-Lotus made USD 3.3 billion of revenue in Thailand in 2018, making it the store’s largest market outside the UK.
In light of the company’s success in Thailand and neighboring Malaysia, Tesco is reportedly considering options for expansion in other Asian markets including South Korea and China.
(Sources: Chiang Rai Times; InsideRetail.asia; The Thaiger)