Tesco to invest millions to become No.1 retailer

"As a result, our network will be close to 250 strong by the end of the year. We will also launch several pilot "Tesco Express" stores this year, with an area of 300-400 sq m, with the first one likely to be in Warsaw", says Ryszard Tomaszewski, the newly appointed CEO of Tesco Polska. The company will also expand its financial services business this year, adding insurance products to credit cards it has been offering since last year. Tesco does not rule out further acquisitions as it envisages a wave of consolidation in the Polish retail industry over the next five years that should leave the market dominated by four major hypermarket chains and three discount chains. "Our ambition is clear: We want to be number one," says CEO Tomaszewski (Puls Biznesu, p. 10) R.M.