In 1919, Tesco (TSCO) founder Jack Cohen started selling the armed forces' surplus stock from his market stall in Hackney. Now, nearly 100 years on, Britain’s largest supermarket has announced a new brand – Jack’s – which will open between 10 and 15 new stores over the next six months.
While the company describes the new brand as "a part of the Tesco family" focused on "great tasting food that is grown, reared or made in Britain", comments around "the lowest possible prices" have prompted speculation that this is Tesco’s attempt to take on rival discounters such as Aldi and Lidl.
Tesco said that, in addition to its own brand, Jack’s will also stock other grocery labels and a range of general merchandise on a 'When it’s gone, it’s gone' basis. The new business will also "operate on a low-cost business model that is designed to keep prices down". Bosses described it as a "no fuss approach" with a "simplified range of products, no fancy fixtures or fittings, and no added extras, just good quality at low prices".
