Tesco Malaysia has renamed to Lotuss Stores (Malaysia) after its parent company sold its business in Malaysia and Thailand to Charoen Pokphand Group for US$10.6 billion last year to "further simplify and focus the business". CP Group operates across many industries ranging from industrial to service sectors. The rebranding exercise is expected to complete by the end of this year and the company currently employs over 8,600 employees across one head office, two distribution centres, and 62 stores throughout Peninsular Malaysia, the brand said on its Facebook.
Tesco announced the name change in a Facebook post, adding that despite the new branding, it will still strive to cheer consumers up with its services, offers and products. Meanwhile, consumers have also noticed the name change. According to images circulated on social media, some took pictures of the rebranding announcement which was placed in stores as well as physical and digital receipts of their purchases with the name Lotuss Stores Malaysia (formerly known as Tesco Stores Malaysia) printed at the top.
Meanwhile, the rebranding has also taken place in Thailand, with the company being renamed to Tesco Lotus, according to the Facebook page of its Thailand operations. Pictures netizens in the comment section of Tesco's Facebook page also showed that signages in its Thailand store as well as employee uniforms are now allegedly turquoise in colour. The stores have also been renamed to Lotus's. Some netizens expressed their concern about the quality of products sold following the rebranding, while others requested for more products to be brought in to Malaysia from its Thailand stores. A+M has reached out to Lotuss Stores (Malaysia) about the rebranding.
Separately, Sime Darby also sold 30% of its stake in Tesco Stores to Thailand's C.P Retail Development Company last year for RM300 million. Sime Darby said previously that this was part of a larger deal between Tesco and Charoen Pokphand Group that was signed last March.
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