In focus: Tesco diversification presents opportunity for retail expansion

For a company looking to simplify its portfolio, Tesco’s optical retailing arm has been low hanging fruit for some time now. Ever since the firm’s accounting scandal in 2014, which related to the admission by Tesco Stores Limited that it had overstated profits by £326m, the company has sold off business assets that were not in line with its new simplified strategy. Last year, the Giraffe restaurant chain was sold, following the sale or closure of Tesco’s operations in China, South Korea and the US. It has also sold Dobbies Garden Centres and music and streaming service Blinkbox. For Tesco Opticians, it was a question of ‘when’ rather than ‘if’.