Tesco is to launch its new discount store format called Jack’s, taking on German discounters Aldi and Lidl.
The UK’s biggest retailer invited reporters to join chief executive Dave Lewis at its site in Chatteris, Cambridgeshire, on Wednesday.
It was reported in July that Tesco was close to launching a chain of discount stores in Britain called Jack’s, after Jack Cohen, who founded a business in 1919 that became Tesco.
Tesco is Britain’s grocery market leader with a share of 27.4%, while Aldi and Lidl have increased their combined share to 13.1%, according to the Kantar Worldpanel data.
