The world’s third largest retailer TESCO, have picked 23 Sri Lankan exporters in their hardline categories. This is the first such initiative by TESCO in Sri Lanka.
“We are returning to Sri Lanka in 2013 first quarter for our second round of one-to-ones,” Kenneth Astley, the Haryana based General Manager of TESCO Hardlines, (under Tesco International Sourcing, Hong Kong) said.
TESCO PLC is a $ 94 billion revenue (2011) world’s third largest listed retailer with 6,300 stores, 500,000 employees across 14 countries and also is the largest supermarket chain commanding more than 30 % British market share. “I am also impressed with the professionalism of the Ministry of Industry and Department of Commerce (DoC). From day one of our arrival, everything went smoothly with top coordination and we achieved our mission in Colombo quickly thanks to their sleek professionalism and organisational focus of DoC,” said Astley.
Astley expressed these views after his successful one-to-one direct buyer meetings for TESCO PLC with Sri Lankan exporters. Facilitated by the Department of Commerce (DoC), Astley began his one-to-one meetings with Sri Lankan exporters on December 5 and continued through December 6. “Previously, our growth came from UK. But now we see new growth coming from the East, South Korea, Thailand, Malaysia and China as our stores in these markets report more sales.
Therefore we need to source more products and Sri Lanka is one South Asian country we are now closely studying among 33 new sourcing destinations. We are looking for additional GBP 15 to 20 million ($ 32 million) additional product sourcing from Sri Lanka in items such as ceramics, plastics, wood products and coir but not apparel or garment or even food items. We already purchase apparel from Sri Lanka to the value of $100 million every year,” he said.