The UK based grocery and general merchandise company has succeeded to become one of the top five players in the merchandise business and today it has over 6000 stores in 12 countries of the world. With this, the company is a real success story from which it is really worth learning. Therefore we will hereby introduce the key dates and milestones in the history of Tesco, counting from its founding up until today. With the dynamical business model the company is representing, we can surely expect even more growth and diversification to come in the history of Tesco.
1919: the year of Tesco’s founding by Jack Cohen who has started up a few stalls to sell its own groceries in the east side of London.
1924: the founding and first appearance of Tesco’s name which is the result of the initials coming from the in T.E Stockwell the first tea supplier of Cohen’s and by adding the first two characters of his own last name.
1931: the first official Tesco store opens in Edgware, Middlesex.
1956: the opening of the first supermarket and the first self-service store in St. Albans
1961: Tesco gets in the Guinness Book of World Records by opening the largest store in Europe
1984: Tesco online shopping system is started up in the UK. It’s worth adding that Tesco is one of the few who could make their online shopping system profitable.
1987: Tesco, which by far has grown by buying out smaller chains of grocery stores from across the country completes one of its key acquisitions by buying up the Hilliard’s chain, one major chain of grocery stores in the UK, and takes over its 40 stores.
1994: Tesco finds the way to expand to Scotland by buying out the William Low supermarket and grocery store chain with 57 of its stores.
1995: Introduction of the Tesco Clubcard a type of loyalty card which gifts points for every British Pound spend on shopping there.
1995: Tesco starts its international expansion by opening stores in the US and in Poland.
2003: Tesco opens its first store in Japan (by purchasing the local C-Two Network) further expansion to Turkey and Thailand follows.
2006: Tesco starts up a mayor operation under the name Fresh and Easy in the United States. This chain was sold in 2013 to a US company.
2013: Introducing Tesco’s first own tablet called Hudl
2013: The starting up of Tesco Family Dining restaurant chain in the UK. These stores are now being sold as it did not prove as successful as it was bound to be. The idea could also be affected by the economical crisis.
2014: the economic crisis also affects Tesco which closes down 57 stores throughout the UK
2015: a store diversification follows: next to hypermarkets, Tesco also starts up with smaller range of stores which can operate more cosily in the city, especially close to larger traffic hubs, such as railway stations, bus stations and airports.