Charoen Pokphand Group, which acquired Tesco’s stores in Thailand and Malaysia, has introduced a new logo and name.
From Lotus supermarket to Tesco Lotus and back to Lotus’s
CP Group ran into financial challenges in 1998 during the Asian financial crisis and sold 75% of its stake in Lotus supermarket to Tesco. The stores were renamed to Tesco Lotus then. CP re-purchased the Southeast Asian business from Tesco in a US$10.6bn deal which was completed in December 2020. The new owner has swiftly rebranded its stores to Lotus’s in less than two months. Tesco Lotus Express convenience stores will be renamed Lotus Go Fresh.
Rebranding exercise to be completed by end of this year
The retailer has about 1,900 stores in Thailand and 62 stores in Malaysia. The logo has been changed from a white background with red and green lettering to a turquoise design. The move is aimed at renewing the brand image.
Source: CP Group
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