Metcash Ltd has moved to take on international giant Costco in the big-box retail market, with the launch of its own chain Value Depo, according to The Australian.
According to the newspaper, Value Depo will be created through the rebranding of Metcash's struggling Campbells arm.
The group will stock fresh food and a range of general merchandise, but will not charge a membership fee. Costco charges customers $60 a year to shop in its stores.
However, Metcash Food and Grocery chief operating officer Silvestro Morabito told The Australian that customers would need to have an Australian Business Number.
The provision will help get around trading laws related to store locations outside of designated city retail zones.
MTS Price at posting:
$3.19 Sentiment: LT Buy Disclosure: Held
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