Tesco Unveils Jack's In Cambridgeshire
19 September 2018, 11:13 | Updated: 19 September 2018, 12:22
Tesco is opening a new chain of discount stores under the name Jack's.
It's part of an effort to compete with Aldi and Lidl.
The first two branches will open tomorrow in Chatteris in Cambridgeshire and Immingham in Lincolnshire.
Up to 15 stores will open over the next year, with five existing Tesco properties being repurposed and the remainder being new outlets.
Most products will be Jack's own brand and the chain will have 2,600 lines.
Tesco said that eight out of 10 Jack's food and drink products will be "grown, reared or made" in Britain and stores will stock an own brand range, also branded Jack's.
It will operate a "low-cost business model" designed to keep costs low and prices down.
The launch of Jack's is part of Tesco's centenary celebrations which will see the business mark 100 years in 2019.
Mr Lewis said: "Jack Cohen championed value for customers and changed the face of British shopping. He's an inspiration for all of us and that same spirit still drives Tesco now.
"It's fitting that today, we mark the beginning of Tesco's celebration of 100 Years of Great Value by launching a new brand, and stores bearing his name: Jack's. Great tasting food at the lowest possible prices with eight out of 10 products grown, reared or made in Britain."
Jack's will receive an initial £20 million to £25 million capital injection.
Tesco customers will not be able to use Clubcard points at Jack's and there will be no online proposition.
Mr Lewis said that beyond the initial 15 stores, there is "optionality" for further outlets but it is "not a calculation we're currently making".
The Jack's launch will see the creation of up to 250 new jobs, with around 25 staff employed in each store, Tesco said.