The most iconic British supermarket chain is on a tear.
It’s all thanks to the new brand Ten-Ten.
The supermarket chain’s success comes after a year in which it has expanded its portfolio of products from bread and cheese to breakfast cereals and baked goods.
Its stock has doubled since its launch in September last year, with sales surging more than 200 per cent over the past year.
With sales of products including fruit juices, biscuits and frozen custard all surging, the chain’s stock is now worth £9bn, according to data from Sainsbury’s.
Ten-Ten was created by Sainsburys in the late 1990s.
In a move to create a more local brand, the company bought the iconic Newcastle bakery and supermarket chain Ten-Seven, which has a long history of selling local products.
Sainsburys said Ten-Eight had been “the UK’s most successful local brand for years” and would continue to grow its brand “with the same passion”.
Ten, it said, would continue “to offer a range of innovative products and services, including fresh fruit, dairy and vegan products”.
The company said it was now expanding its business across Europe and North America, with plans to expand to Japan and Hong Kong.
A spokesman for Ten said the brand had “successfully adapted” to the global market, which was “now more than ever before”.
“Ten-Eight has achieved an amazing transformation since our inception.
It is the UKs fastest growing local brand and has seen strong growth over the last year.”
Ten also opened a second store in Oxford, north-west England, in September. “
We believe the future is local, not global.”
Ten also opened a second store in Oxford, north-west England, in September.
This follows a year of growth in the UK, where Ten-10 had seen sales grow more than 500 per cent.
However, the retailer is struggling in the face of rising inflation, as a lack of local and regional markets makes its products increasingly expensive.
While Ten- Ten’s stock has increased, its margins have shrunk by 30 per cent, according a Sainscott report.
Sales of the company’s breakfast cereal products have also shrunk by more than 30 per a cent.
Ten’s sales have also suffered as its business model has become increasingly reliant on online advertising.
Despite the difficulties Ten-ten has faced, its sales are expected to reach $2.6bn (£1.8bn) by 2021, the Sainscot report showed.
TEN-TWO, which also sells breakfast cereALs and biscuits, will continue to expand in Asia and Europe.
But Ten-Tone has failed to find success in those markets, as it has struggled to grow in the past decade.
And Ten-Twelve has suffered in recent years from rising costs in China, as its overseas sales have fallen.
When Ten-tones products become less affordable in China and the rest of the world, Ten-Two will continue selling locally sourced products in those regions, it added.
Eight-Eleven has had some success in Asia, with its sales rising more than 400 per cent since its founding in 1993.
As a result, the retail giant has now expanded into the United States, Europe and Canada.
More to come.