Carrefour and Tesco have announced their intention to form a long-term strategic agreement.
This agreement will cover strategic relationships with suppliers as well as the joint purchase of own-brand products and non-market goods. It will be governed by three-year operational cycles.
The agreement will enable both groups to improve the range and quality of products at even lower prices for the benefit of customers, thus increasing the competitiveness of both brands. This partnership will also strengthen links with suppliers by opening up new opportunities. At the same time, each company will continue to work with local and national producers.
It is expected that the partnership agreement will be finalized within two months. The two groups will then work together to reap the benefits of this association.
Alexandre Bompard, Chairman and CEO of Carrefour Group said, “This strategic partnership between Carrefour and Tesco is a major agreement because it combines the purchasing expertise of two world leaders in distribution, complementary in their geographies and sharing common strategies. This agreement is a great opportunity for commercial development for our two brands serving our customers. This international partnership has once again strengthened Carrefour and made it a milestone in the implementation of its strategy.”
Dave Lewis, Tesco Group General Manager, said, “I am particularly pleased with the formation of this strategic alliance with Carrefour. By working together and making the most of our respective product expertise and sourcing capabilities, we will be able to better serve our customers, further improving the choice, quality and value of our offering.”
