Is Tesco planning a discount chain?

UK: Leading supermarket Tesco is said to be planning a separate discount chain to rival the growing popularity of Aldi and Lidl.

The Sunday Times has reported that the new chain would stock a limited range of around 3,000 products.

The retailer is said to have brought in advisers from the Boston Consulting Group to work on the plans. Tesco is also reported to have asked a number of key own-label suppliers to sign non-disclosure agreements before contributing to the new project.