Tesco, the giants of the UK supermarket industry, have today unveiled plans to expand its clothing range as it gears up to take on the high street stores.
The company is wants to invest millions of pounds into revamping its clothing section, with plans to offer clothing and home catalogues, online sales and introducing a new ‘store within a store’ clothes outlet .
Tesco currently controls over 30 per cent of the UK grocery sector, but has only 3 per cent market share in clothing. However this is one of its fastest growing areas.
Terry Green, Tesco’s fashion chief executive, gave an exclusive interview with City AM, London’s free daily business paper, were he said he expected to boost clothing sales to £1 billion sterling during the next twelve months. “We have a massive investment coming in and we are going to trial selling our clothing ranges online next year.”
Currently consumers are able to browse Tesco’s clothing ranges online, but without being able to make purchases, which can only be done in store. The new revised plans would allow customers to buy clothes online via their Tesco Direct site, which was launched in September.
Mr Green continued by stating that Tesco was looking to the top of the market were they would ultimately set their sights on the UK’s high street giants, such as Next and Top Shop as well as Britain’s biggest clothing retailer, Marks and Spencer .
“The company is committed to increasing the non food side of its business and closing the gap with M&S,” he said.
In order to achieve this target the company knows they will have to up their standard for their clothing range in order to attract the more fashion keen customers .
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