Tesco becomes Lotus Overnight

Overnight, Tesco Malaysia has renamed its outlets to Lotuss Stores (Malaysia). This move comes after its parent company sold its business in Malaysia and Thailand to Charoen Pokphand Group for US$10.6 billion last year. CP announced the action is to “further simplify and focus the business”.

CP Group operates across many industries ranging from industrial to service sectors. The company will complete the rebranding exercise by the end of this year. The company currently employs over 8,600 employees across one head office, two distribution centres, and 62 stores throughout Peninsular Malaysia. CP group has been managing close to USD 20 billion in revenue yearly.

Tesco announced the name change in a Facebook post. The company added that it will still strive to cheer consumers up with its services, offers, and products despite the new branding.

Netizens spot the change to Tesco.

Meanwhile, consumers have also noticed the name change. Images circulating on social media shows the rebranding. Some also uploaded pictures of their purchases’ physical and digital receipts with the name printed at the top.

The rebranding has also taken place in Thailand. According to a Facebook page of its Thailand operations, the company is renamed Tesco Lotus. In the comment section of Tesco’s Facebook page, Netizens made comments on the differences. Some showed that signages in its Thailand store and employee uniforms are now allegedly turquoise in colour. CP has renamed the stores to Lotus’s. Some netizens expressed their concern about the quality of products sold following the rebranding. Others wished for more cross border products.

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 more significant deal between Tesco and Charoen Pokphand Group that was signed last March.