Dear CBI members and strategic partners,
China Direct would like to share with you a snapshot of CBI members' successes in China through 2014. We hope that you found our new format easy to use, visual and informative and wish you all every success for the forthcoming year of the sheep.
Please do keep sending us your updates and press releases so that your business can also be highlighted in 2015.
Thank you.
CBI member Tesco recently completed the formation of a joint venture with China Resources Enterprise Ltd. (CRE) to create the leading multi-format retailer in China.
The joint venture combines Tesco's best-in-class retail practices, international sourcing, and multichannel capabilities with CRE's strong local knowledge and brand to create a business which is the largest food retailer in China.
Philip Clarke, CEO of Tesco, said, "We're very pleased to have completed this historic agreement. The partnership creates a strong platform in one of the world's largest markets. We can now combine our strengths to build a profitable multichannel business, offering our customers in China the best of modern retail."
Hong Jie, CEO of CRE, said, "We are very excited about the completion of this agreement; it also marks a major milestone for our business development. We believe that this partnership is one that combines the strength of both parties and enables the joint venture to become the leading multi-format retailer in Greater China, through improved operations, better growth, and enhanced profitability."
Please click here to read the full press release by Tesco.
CBI member Tesco and China Resources Enterprise (CRE) recently announced that they have entered into a Memorandum of Understanding and are in exclusive talks to combine their Chinese retail operations to form the leading multi-format retailer in China.
The partnership would bring together CRE's deep understanding of local
customers, established nationwide infrastructure, and proven track record as a
partner with Tesco's global retail expertise, international sourcing scale, and
supply chain capabilities. The proposed joint venture would create a business
with sales of some £10 billion, in which CRE and Tesco's effective interests
are expected to be 80% and 20%, respectively.
It would involve CRE combining its CR Vanguard business, which currently
operates 2,986 stores across China and Hong Kong, with Tesco China's 131 stores
and shopping mall business.
The transaction is subject to further due diligence and agreement of final
terms. There is no certainty that a transaction will occur.
Please click here
to read the full press release by Tesco.
Philip Clarke, Chief Executive Officer of CBI member Tesco, recently spoke at the World Retail Congress in Singapore.
His speech included a key focus on Tesco's strong presence in emerging markets in Asia, with highlights including:
• Tesco's businesses in South Korea, Thailand, Malaysia, India, and China together employ more than 120,000 people. In 2012, they reported sales of over US$16 billion.
• The Tesco Lotus business in Thailand already has 1,200 stores, a floor space of over 13 million square feet, and a market share of 13%.
The Tesco Lotus App was one of the most popular downloads in Thailand when it was launched.
• In Asia, Tesco has sourcing hubs in Sri Lanka, India, Bangladesh, China, and Cambodia. Tesco sources a range of products from over 15 countries in the region.
• Mobile commerce is growing rapidly, and Asia is at the epicentre of this transformation.Tesco is expanding its digital presence in all of its markets this year.
For example, Tesco will launch its dotcom service in Bangkok and Kuala Lumpur over the coming weeks and in Shanghai this summer. The service is already live in Seoul.
In addition, Tesco is leapfrogging the establishment of a modern mail system by launching digital Clubcard in China over the coming year.
Please click here to read the full speech by Mr. Clarke.
CBI member Tesco recently released its interim management statement for the third quarter of 2012, reporting an improved quarter in Asia, with total sales in the region up 6.8% at constant rates.
In China, Tesco opened two new stores in the third quarter and plans to open a further seven in the next month, in line with the retailer's plans to maintain its annual opening programme at a similar level to last year in this strategically important market.
Please click here to read the full results for Tesco.
[Image courtesy of www.tesco.com]
With the support of China's Ministry of Commerce (MOFCOM), CBI member Tesco recently held its second Retail Sustainable Development Forum in China in Suzhou.
Tesco has set the target of becoming a zero carbon business by 2050. To meet that target, the retailer plans to halve the emissions from its stores by 2020 and in its distribution network by 2012/3. Tesco also aims to work with its suppliers to reduce the emissions in its supply chain by 30% by 2020.
In China, Tesco is actively supporting retailers in their efforts to go green, developing green and low carbon distribution networks, and advocating the concept of green consumption among customers.
As part of its sustainability efforts in the country, Tesco launched its first green logistics centre in China last year. Located in Jiashan in Zhejiang province, the 55,000 square metre facility features an integrated energy-efficient design, which incorporates an extensive range of green technologies that use renewable energy sources and reduce energy and water usage.
Employing over 26,000 people and serving over four million customers per week in China, Tesco currently has 110 hypermarkets across 11 provinces and 14 small trial express stores in Shanghai.
Please click here to read the speech delivered by Lucy Neville-Rolfe, CMG, Executive Director, Corporate and Legal Affairs at Tesco, at Tesco's Retail Sustainable Development Forum in China.
A wide variety of CBI member companies had a successful month in China.
The following our featured in our monthly member update. Please refer to the attachment below for details. And don't forget to let the Beijing team know if your company has something to announce in May!
Download CBI China, Celebrating CBI member success in China, April 2012
[Image courtesy of www.cbi.org.uk]
Dear China Direct readers,
Kindly find more than 25 examples of UK and international CBI member companies that are celebrating business success in China in November 2011.
Download CBI China, Celebrating member success in China, November 2011
This will mark the 300th entry since China Direct went live back in June 2009.
Please let the CBI team in Beijing ([email protected] tel: 00 86 10 85253100) know if your company would like to share your China business news with the CBI's international member network.
Many thanks.
[Image courtesy of www.tesco.com]
CBI member Tesco recently received the prestigious 'Green Supply Chain Award' from The Global Supply Chain Council in China.
The Global Supply Chain Council praised Tesco for demonstrating strong environmental leadership and a firm commitment to promoting green business in China.
Tesco's new 'green' logistics centre in eastern China's Zhejiang province received particular recognition for having "set and exceeded" its own high standards for environmental friendliness.
Launched in July this year, the 55,000 square metre facility forms an important part of Tesco's commitment to become a zero carbon business by 2050.
For example, the innovative design of Tesco's new logistics centre uses 45% less water and electricity in comparison to a normal warehouse, and carbon emissions have also been reduced by at least 35%.
Commenting on the award, Helen Fleming, Group Climate Change Director at Tesco, said, "We are extremely proud to have won this award in China. As one of the world's leading retailers, we recognise our responsibility to protect the environment and we have made great strides in reducing our emissions in China."
Please click here to read the full press release by Tesco.
Kindly find more than 20 member success stories from the past two months below.
If we have missed out your company then please let China Direct know!
Please download the details below:
Download CBI China, Member Success Stories, August & September 2011
