Every little helps!
UK’s retailer giant Tesco has announced a global long-term purchasing alliance with Europe’s largest retailer Carrefour, in a radical effort to cut costs.
The alliance, whose financial terms were not disclosed, will cover the strategic relations with global suppliers in areas such as marketing services or data collection as well as the joint purchasing of own-brand products and goods not for re-sale, said Carrefour in a statement today.
“This strategic alliance between Carrefour and Tesco is a major agreement as it combines the purchasing expertise of two world leaders, complementary in their geographies, with common strategies,” said Carrefour CEO Alexandre Bompard. The alliance will be formally agreed in the next two months.
Carrefour operates 12,300 stores across more than 30 countries.