French retailer Carrefour & UK-based Tesco to end purchasing alliance

Over the last three years, Carrefour and Tesco have benefited from a number of joint buying opportunities across categories, enabling access to new suppliers, new sources and new products, they said in a joint press release.

Moving forward, both companies will continue to work independently and focus on their own opportunities, building on the experience and the progress made during the alliance period.

The deal was struck in 2018 to strengthen their relationships with suppliers and reduce prices of products through collective buying power.

Fibre2Fashion News Desk (KD)