British retail market trusts Turkish market, to increase investments

IZMIR (A.A) - 07.04.2011 - A British retail market has confidence in Turkish market and aims to increase its investments in Turkey, an executive of the company said on Thursday.
Steve Reynolds, the marketing director of Tesco Kipa, said Tesco Kipa had opened 48 hypermarkets and 75 express markets in Turkey so far.
Reynolds told AA correspondent that the group was employing almost 8,000 people, and Turkey was one of the most competitive retail mairkets in the world.
The director also said Tesco's plan was to continue investments and grow in Turkey.
Established in the Aegean province of Izmir in 1992, Kipa cooperated with Tesco in 2003 and changed its name as "Tesco Kipa."
A global grocery and general merchandising retailer headquartered in United Kingdom, Tesco is the third largest retailer in the world measured by revenues (after Wal-Mart and Carrefour) and the second-largest measured by profits (after Wal-Mart).
It has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in the UK (where it has a market share of around 30%), Malaysia, the Republic of Ireland and Thailand.
Originally a UK-focused grocery retailer, Tesco has diversified both geographically and into areas such as the retailing of books, clothing, electronics, furniture, petrol and software; financial services; telecom and internet services; DVD rental; and music downloads.
It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.