British retailer Tesco has confirmed a joint venture with Indian company Trent, part of Tata Group.
Tesco has invested around £85 million ($140.2 million) to own 50 per cent stake in Trent Hypermarket, which will operate 12 stores under the ‘Star Bazaar’ and ‘Star Daily’ banners across the Southern and Western regions of India.
The stores will sell a range of merchandise including food and grocery, personal and home care products, home and kitchen, fashion and accessories.
Since 2008, Tesco has had a wholesale supply and franchise and technical service agreement to supply merchandise and provide technical knowhow and support to Trent Hypermarket in India.
