UK supermarket chain Sainsbury’s is reported to be planning to overhaul its image in a bid to win back market share.

The retailer, currently ranked third in the UK, is to abandon its “Making life taste better” slogan in favour of a new image that emphasises value as well as quality, reported the Sunday Express, citing sources close to the company.

The sources said the image overhaul could cost up to £50m (US$90.1m), and the new look will be introduced in the spring after Justin King takes over as chief executive.

A Sainsbury’s spokeswoman told the newspaper that no decision had been made to replace anything, but added that the retailer is looking at “the way we communicate our brand to customers, and how that reflects a combination of value and quality”.  

King, a former boss of MARKS AND SPENCER’s food business, is to take over from current CEO Peter Davis on 29 March, when Davis will become chairman. Besides working for M&S, King has also spent seven years at rival supermarket chain Asda.