Home / Knowledge / News / Apparel/Garments / Tesco signs deal with Japan's largest retail group Aeon
Tesco signs deal with Japan's largest retail group Aeon
19
Jun '12
In line with its previous announcement, Tesco has entered into an agreement with Aeon, Japan’s largest retail group.

Tesco will exit Japan in a two stage process.  In the first phase Tesco will sell 50% of its shares in Tesco Japan to Aeon for a nominal sum.  This will result in the formation of a joint venture with Aeon.  As part of this, Tesco will invest a further c.£40 million as a joint venture partner to finance further restructuring, after which Tesco will have no further financial exposure to the Japanese business or its operations.

Philip Clarke, Chief Executive Officer of Tesco Plc, said: "I thank our colleagues in Japan, who have done an excellent job for the business – in particular over recent months.  We are very pleased to announce this deal with Aeon, and are confident that this will deliver the best outcome for our staff, for our customers in Japan and for our shareholders."

Completion of this transaction is subject to usual regulatory approval.

Tesco

Must ReadView All

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Apparel/Garments | On 26th May 2017

Christian Dior, Nike top apparel companies - Forbes

Christian Dior, Nike, and Inditex have topped Forbes' 2017 Global...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search