Tesco has announced plans to launch a series of new food and non-food owned product brands in the coming months.
The UK's largest supermarket chain is keen to become a creator of "highly-valued brands", chief executive Philip Clarke explained in the company's annual report.
Earlier this month, Mr Clarke told the Financial Times that the strategy of producing more of its own goods and services would help to bolster Tesco's performance.
He pointed out that in-house brands - such as electricals range Technika and clothing line Florence & Fred - had already enjoyed substantial success.
Explaining his desire for Tesco to launch more of its own products, Mr Clarke said: "This will give customers another reason to come and shop with us."
Elsewhere in the report, the retailer revealed it enjoyed profits of £3.8 billion in the 2010-11 financial year, while £1 billion worth of sales came from goods that were locally sourced within the UK.
Related News
Tesco group sales hit £68bn in 2010-11 19th April 2011 Tesco has revealed it witnessed an 8.1 per cent rise in group sales last year. |