Tesco: Thinking global, acting local

The British supermarket chain is growing rapidly yet its number of treasury staff is not. How does it do it?

British supermarket giant Tesco is on a roll. Fresh from reporting its first billion-pound profits, the group is keen to expand its stores to Asia. So far, Tesco supermarkets have sprouted in Thailand, South Korea and Taiwan. In Malaysia, the group has entered into a joint venture with conglomerate Sime Darby, and is currently conducting research into China and Japan in relation to market entry. Tesco estimates that by the end of 2002, 45% of the groups selling space will be outside the United Kingdom UK, with a large proportion of this being in Asia.

The retailers treasury functions, however, remain centralized in a global treasury centre in the UK...

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