Tesco launches new F&F franchise concept
Tesco has launched a new franchise model for F&F as it looks to turn the fashion label into a major global brand.
Under the new model Tesco will work with local partners to launch F&F in a range of settings, including stand alone stores within shopping malls and units within department stores and hypermarkets.
The first F&F franchise will launch in Saudi Arabia later this year as part of a franchise agreement with retailer Fawaz Abdulaziz Al Hokair & Co (SJSC). Based primarily on the core European F&F range, Tesco will work closely with Al Hokair to build a range of clothing that is suitable for the local market.
The retailer confirmed that it is exploring further franchise opportunities in other countries.
Tesco said it aimed to make F&F the world’s leading brand of affordable fashion. The brand now trades in 11 markets and is a leading fashion brand in Central Europe, recently launching a second stand alone F&F store in Brno, Czech Republic. Tesco has used the stand alone stores to test and refine ideas for the franchise format.
Jason Tarry, CEO of F&F International said: “The franchise model is a natural extension of the work we have been doing to turn F&F into a truly global fashion brand.
“We have in a very short time created a market leading fashion brand in Central Europe, now worth over GBP 400 million. Now we have the opportunity to grow our brand further, in markets where Tesco does not have a presence.
“Al Hokair is an excellent partner for F&F. It offers local expertise, knowledge and franchise experience that will really make a difference for local customers.”
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