Over the next six months, Tesco will launch 10-15 Jack's stores in the United Kingdom, with the first two stores to open on 20 September in Chatteris, Cambridgeshire, and Immingham, Lincolnshire.
Jack's is named after Jack Cohen, who in 1919 founded the business that became Tesco.
The first two stores will open on 20 September in Chatteris, Cambridgeshire and Immingham, Lincolnshire.
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"This is first and foremost about how we celebrate the centenary", Lewis told reporters at the Chatteris store, which was built as a Tesco supermarket but mothballed in 2015 when the group was in crisis.
With the new chain, Tesco has to walk a fine line, challenging the discounters while avoiding cannibalization of its main store brand with lower prices.
In addition to the Jacks brand, Jacks will stock some familiar grocery brands and a range of general merchandise on a When its Gone, Its Gone basis. "Great-tasting food at the lowest possible prices with 8 out of 10 products grown, reared or made in Britain".
Tesco is Britain's grocery market leader with a share of 27.4%, while Aldi and Lidl have increased their combined share to 13.1%, according to the Kantar Worldpanel data.
United Kingdom supermarket giant Tesco yesterday launched a new discount brand - Jack's - as a rival discounters Aldi and Lidl.
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The tie-up between Tesco's two nearest competitors, which regulators said would be scrutinised in depth, is also driven by the rise of the discounters.
The Times reported that Bryan Roberts, insights director at TCC Global, had praised the look and feel of Jack's stores, while noting that a maximum of 15 stores by 2019 is much more modest than expected.
Tesco has also had to contend with consolidation in the market, opting to acquire wholesaler Booker earlier this year just before J Sainsbury plc agreed to purchase Walmart Inc's Asda.
Sir Jack, who was born Jacob Edward Kohen to Polish parents in 1898, was a Whitechapel grocer who served in the British Army in Egypt and Palestine during the First World War before returning home to establish the business in Hackney.
Tesco attempted to go down the discount route in the 1980s, with its Victor Value brand, but later ditched the concept.
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"Tesco will have to find a way to attract customers from the likes of Aldi, Lidl and Iceland, rather than convert existing Tesco customers into discount shoppers through brand association", he said.