Tesco to open 6-8 multi-brand stores this year

UK-based Tesco is chalking out expansion plans with its equal partner with Tata group’s Trent. It is working out plan to open six to eight stores in Maharashtra and Karnataka, sources said. However, its competitor Walmart is still waiting for plans and proposals from Modi government.
Tesco is only foreign retailer who made a proposal for multi-brand stores under UPA, while the present government led by Modi opposes though not reversed UPA policy. The sources say that the government will not entertain others, sounds advantage Tesco. 
With the proposed expansion to six to eight stores will take Tesco-Trent outlet count to 20 and the company plans to invest in Maharashtra and Karnataka.
As per the agreement between Tesco and Trent, the former obtained 50 per cent stake in Trent Hypermarkets and agreed to invest to the tune of Rs 850 crore in the venture.
The company currently runs 12 stores across Maharashtra and Karnataka. It will open stores of 1,000 sq ft to 30,000 sq ft in Pune, Mumbai and Bangalore under Star Bazaar, Star Market and Star Daily formats, the source said.
Interestingly, after announcing the joint venture, the company has reduced the size of large stores from 40,000-80,000 sq ft to 20,000-30,000 sq ft to save on costs. The new stores will also focus on food and offer better customer experience.