SHAH ALAM: Hypermarket operator Tesco Stores (M) Sdn Bhd says its Tesco Own Brands contributed 20 per cent to its sales for the financial year ended February 28 2019.
Tesco Malaysia chief executive officer Paul Ritchie said there are currently 3,000 Tesco own brand products. Of that, over 300 are under the Tesco Everyday Value range priced competitively against the market.
“Eighty per cent of Tesco Own Brand and an even larger number of products that are carried in our stores are all proudly Malaysian raised, grown and made," Ritchie said.
"This is important given that one of the major reasons for costlier food, according to the Domestic Trade and Consumer Affairs Ministry, is the country's over-reliance on imports.”
He added that by keeping it local, Tesco as one of the country’s major retailers, was not only helping local suppliers grow their business but was also helping Malaysian customers keep their budget in check.
Tesco Group annual report showed that its Asia presence, represented by Thailand and Malaysia, was valued at £4.8 billion (about RM24.7 billion) for the year ended February 28 2019.
It is understood that in Malaysia, the retailer was operationally profitable during the year.
“Our new own brand products had a very positive customer feedback and an increase in Own Brand sales participation in Malaysia.
“As our business continues to strengthen, we can reinvest in our competitiveness and further improve the experience for our customers in Malaysia,” Ritchie told reporters at the launch of Junior Smart Shoppers, an ongoing smart consumerism programme for school children here, today.
Alongside Ritchie who launched the event is PINTAR Foundation general manager Norzalina Masom and Tesco corporate service director Azliza Baizura Azmel.
Spearheaded by the PINTAR Foundation, Junior Smart Shoppers aims to educate primary school children to become smart consumers by introducing them to various aspects of a good shopping habits.
Tesco began collaborating with PINTAR in 2016.
It now has 63 adopted schools with some 57,000 students having collectively benefitted from Tesco’s participation.
“PINTAR Foundation strives to continue building partnerships and we are pleased to have Tesco onboard and we look forward to many more collaborations together in the future,”s aid Norzalina.