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Tesco is a very well-known multinational grocery store and retailer of general merchandise. The company has its headquarters in Welwyn Garden City that is located in England. Tesco is extremely famous and it is considered to be the third largest retailer that can be found in the world when measured on the terms of the gross revenue and ninth position in the world when considered on the basis of the revenues that is collected by the company. the company Tesco has their shops located in five different countries all across Europe and is considered to be the largest and the market leaders in terms of groceries in the United Kingdom.
There has been noticeable global expansion of Tesco since the beginning of the 1990s and the company had operations in 11 countries of the world. The origin of the company Tesco, runs in the past. In the year 1919, Jack Cohen who was actually the son of a Jewish merchant originating from Poland, founded the company Tesco in order to sell the groceries that were the war surplus from a stall at the Well Street Market. The name Tesco was first used for the brand in the year 1924. The name was given after Jack Cohen actually bought a shipment of tea from a person named Thomas Edward Stockwell. The new name was a short form of the initial of the name of the supplier that is TES and the first two letters from his own surname CO. therefore, the famous retail company of TESCO was formed. Throughout the next few decades that is in the 1950s and 1960s, there was a phenomenal growth of the company. Tesco expanded their business through several acquisitions that were made by Cohen. Some of the most important acquisitions that were made by the company was that of Williamson’s shops in the year of 1957 and Irwins shops in the year 1960. There were many other chain of shops that were acquired and Tesco finally acquired around 800 shops.
Therefore, to conclude, Tesco is a very successful retail chain that has its business in multiple countries. In this essay, there is a vivid background of the company from its origins is understood. Also, through the help of the SWOT analysis the internal environment of the company is understood. Also, the PESTLE analysis helps to understand the external environmental factors that is affecting the business of Tesco.
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