British sandwich and coffee chain Pret a Manger is planning to open sandwich and coffee shops in Tesco stores as it reinvents its business model after the COVID-19 pandemic, which hammered its sales.
Below Pre-Pandemic Levels
Pret has suffered as many of its 389 stores are located on high streets, at transport hubs and close to offices that are still below pre-pandemic levels in terms of footfall and occupancy.
As people now begin to return to work in Britain, Pret, which is owned by investment group JAB Holdings, said that it will initially open a shop in Tesco's Kensington store in central London in June, and three further summer openings are also planned.
Possibility Of Being Rolled-Out More Widely
If successful, the expansion of Pret's partnership with Britain's biggest retailer could be rolled-out more widely.
Croissant And Granola Deal
Pret struck a deal this year that saw its bake-at-home frozen croissants and granolas sold in Tesco stores across the country and through the group's website.
Pret Chief Executive Statement
"This partnership with Tesco is one way in which we're transforming our business model to adjust to a new way of living and working," Pret chief executive Pano Christou said.
Number Of Employees
Pret currently employs approximately 5,000 people, having shed approximately 3,200 jobs over the last year as a result of the coronavirus crisis.
Changes To Business
Other changes to Pret's business over the last year included a subscription service for drinks, selling ground coffee and beans online through Amazon, delivery partnerships with Deliveroo, Just Eat and Uber Eats, and shops in Moto service stations.