Tesco was founded in 1919 as a group of market stalls in London.
Now it operates in 12 countries around the world and serves tens of millions of customers every week. It has employees over 530,000.The first brand of the company was Tesco Tea and it was launched in 1924. First Tesco store was opened in 1929. Tesco is grocery market leader in UK. Tesco is diversified in Retailing, Financial Services, Telecom and internet services. Tesco had a market capitalization of £18.1 billion as of 22 April 2015. Tesco is also funding a film studio since 2010 to produce Tesco exclusive direct-to films. “Paris Connections” was the first film released by this studio on Sept 6, 2010, which was based on a popular novel by Jackie Collins. Hudl was the Tesco’s first ever tablet-computer launched in 2013. Due to heavy losses this year Tesco will close its head office in Cheshunt as well as 43 stores and 49 supermarkets to reduce costs. Tesco has sold its Blinkbox Music streaming service to Guvera in January 2015. It has also sold its Blinkbox on-demand video service and broadband and fixed line businesses to TalkTalk and closed its Blinkbox book services in February 2015. Tesco’s UK store operations are divided into six formats. They are- Tesco Extra, Tesco Superstores, Tesco Express, Tesco Metro, One Stop and Tesco Homeplus.