Tesco Ireland
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| Tesco Ireland Limited | |
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| Type | Private |
| Founded | Dublin, Ireland (1962) (as Power Supermarkets Limited, change of name 1997) |
| Headquarters | Dún Laoghaire, Ireland |
| Key people | Tony Keohane (Chief Executive Officer), William McCann (chairman) |
| Industry | Retail (various) |
| Products | Groceries, with larger stores offering music, video gameselectrical goods, clothing, and toys. |
| Revenue | €2.476 billion (2007) |
| Employees | 11,800 (2004) [1] |
| Parent | Tesco |
| Website | www.tesco.ie |
Tesco Ireland Limited is a supermarket company in the Republic of Ireland.
The company was formed in 1997 following the acquisition by Tesco plc of the Irish retailing operations of Associated British Foods plc; namely Powers Supermarkets Ltd. and its subsidiaries (see below).
Tesco operates supermarkets under the "Tesco" and "Tesco Ireland" brands, as well as three hypermarkets under the "Tesco Extra" brand, with a fourth store in Tullamore in development and a small number of convenience stores under the "Tesco Ireland Local" and "Tesco Express" brands. Five petrol stations are also operated by the company, as well as an internet shopping service, tesco.ie. In 2007 the company launced its mobile telephone service, Tesco Mobile.
Tesco Ireland was also the name of an earlier chain of stores in the Republic of Ireland acquired by Tesco in the early 1980s. These were originally founded by Albert Gubay as 3 Guys. In 1986, these were sold to the H Williams chain of supermarkets which subsequently collapsed, in the same year. Many ended up as outlets of other chains, including Crazy Prices, meaning they returned to Tesco ownership eventually.
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[edit] History
[edit] Quinnsworth/Tesco/Crazy Prices
Quinnsworth was founded by Pat Quinn in the early 1970s, and was later sold to Power Supermarkets. During the 1970's the slogan used was "Let's get it all together at Quinnsworth". Power Supermarkets Ltd. became the parent company but used Quinnsworth as its marketing name. The company became a wholly owned subsidiary of Associated British Foods plc.
Quinnsworth is remembered for their choice of store sites, their most memorable act was the addition of the phrase Yellow Pack to the English language. Towards the end of Quinnsworth's life, Yellow Pack was replaced by Premium Choice as the own brand. Quinnsworth was also remembered for its advertising campaigns featuring its marketing director (and later chief executive) Maurice Pratt, who would personally introduce new product promotions, ending each advert with the company slogan, "That's Real Value".
Crazy Prices (occasionally Super Crazy Prices) was a brand used by Quinnsworth on some of its larger outlets. These were known for their cheap prices. Crazy Prices was one of the first retailers in Ireland to introduce late night opening (until 9pm) on Wednesdays, dubbing this night "Crazy Night" and running special in-store promotions. Until the mid-1990s, most Irish retailers only opened late one night a week, usually Thursday (in Dublin city) or Friday.
Quinnsworth's subsidiary in Northern Ireland was Stewart's Supermarkets Limited, which merged with Crazy Prices in Northern Ireland around 1996.
[edit] ABF sale and Tesco acquisition
In May 1997 Tesco acquired retailing and supply chain operations of Associated British Foods for £643 million.
The grocery businesses acquired were those held by Comar Limited in the Republic of Ireland and Stewarts Supermarkets Limited in Northern Ireland. Comar was the parent company of Powers Supermarkets Ltd (trading as Quinnsworth) and Crazy Prices in the Republic of Ireland. Stewarts Supermarkets included Crazy Prices in Northern Ireland.
Other businesses acquired were the Stewarts Wine Barrel off-licence chain, the sports goods retailer Lifestyle Sports & Leisure Ltd. (marketed as "Lifestyle Sports"), the meat processing and packing business Kingsway Fresh Foods Ltd. and the Fresh fruit and vegetable distributor Daily Wrap Produce Ltd.
The Northern Ireland operations were folded into Tesco's core UK business, while the Republic of Ireland operations became Tesco Ireland. Lifestyle Sports was demerged in 1997 via a management buy-out. Stewarts Wine Barrel was sold to United Wine Merchants in 2001.
[edit] Tesco Ireland
After the acquisition of Power Supermarkets (PSL) by Tesco, the company name changed to "Tesco Ireland Limited". The first signs of the new regime was the almost immediate introduction of the Tesco own-brand (with advertising stating "Tesco at Quinnsworth and Crazy Prices"), with the completion of the phasing out of Yellow Pack and the other PSL own-brands such as KVI and Premium Choice. Maurice Pratt stayed on as chief executive of the Republic of Ireland operations.
Over the next few years the Quinnsworth and Crazy Prices chains were rebranded as "Tesco Ireland", using a white-on-blue variation of the familiar Tesco logo. The first store to open under the Tesco name was in Athlone in 1997. The changeover was at first relatively slow, with the Quinnsworth and Crazy Prices names continuing to appear on adverts for some time after the launch of the new company identity. Tesco's initial policy was not to change the name over the door until the store had been upgraded to Tesco's standards, in some older stores this meant a significant rebuild of the premises. The first fully rebuilt store opened in Maynooth in 2000. Some older stores continued to trade under the former names until the early 2000s.
In October 2000, Tesco Ireland launched its tesco.ie online shopping service for the Dublin area. Essentially an Irish expansion of the tesco.com service offered in the UK, the service expanded until by 2004 it was available nationwide. In 2001, Maurice Pratt, who had been the public face of Quinnsworth, left the company to become chief executive of C&C, later taking up a post as chairman of Bank of Scotland (Ireland). He was replaced by Gordon Fryett.
Recently, Tesco Ireland has been slowly rebranding its stores as simply "Tesco", using the regular red-on-white Tesco logo. It now appears that the Tesco Ireland logo will be phased out completely from shop fronts, though it is still used for print advertising - it has, however been reverted to the red-on-white colour scheme.
The company opened its first Irish "Tesco Extra" hypermarket at the Clare Hall estate in Coolock, north Dublin in 2004, and has also branched into filling stations, featuring low petrol prices. Many stores are now also open 24 hours. The company has also moved into the convenience store market, with the first a converted Quinnsworth (then the smallest store in the chain) in Drumcondra, opened as a "Tesco Ireland Local". This is the only store to use this brand, as subsequent new convenience stores use the "Tesco Express" brand instead.
Tesco has also expanded its product range in Ireland. The Tesco Extra hypermarkets, as well as larger Tesco stores, now stock a range of clothing, electrical goods, music, DVDs and video games, as well as newspapers, magazines, and toys.
[edit] Criticisms
Tesco Ireland is the largest food retailer in Ireland, and has over 10,000 employees. As of 2004 Tesco Ireland has come in for increased criticism for apparently high prices in its Irish stores, although in its favour this seems to be because comparisons are with the British Tesco stores rather than other Irish retailers - and thus like is not being compared with like. However, there have been general criticisms of the similar pricing between Irish supermarkets, and economic reports noting the high prices in Ireland generally.
Speaking to business leaders in Belfast, Tesco plc CEO argued that higher prices in Northern Ireland were due to higher energy costs and the cost of transporting goods from Great Britain.
[edit] Tesco Mobile (Ireland)
On 26 October 2007 Tesco Ireland announced that 'An extensive range of Tesco Mobile prepay handsets will be rolled out to 48 Tesco stores from Monday 29th October'. Tesco Mobile launched as a MVNO piggy-backing on the O2 Network in Ireland. They have also outsourced the running of Tesco Mobile to Fujitsu Ireland. The network uses the 089 prefix.
[edit] References
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