Tesco decides to invest $100 million in multi-brand retail

Over a year after India opened multi-brand retail trade to foreign investment, British retailer Tesco Plc has applied to the Government to extend its supermarket chain here. This makes Tesco the first global retailer to apply for entry in India’s multi-brand retail market. Tesco plans to invest $100 million to commence its operation with Trent Hypermarket Ltd in a 50:50 joint venture. Trent is the retail arm of Indian conglomerate Tata Group. The stores will operate under the names Star Bazaar, Star Daily, or Star Market and first few shops will open in Maharashtra and Karnataka. Such ultimate decision of Tesco is a golden opportunity for the signage players engaging in activities in in-shop signs, displays, etc.