Over the next six months Tesco will roll out 10-15 Jack's stores across the United Kingdom, with the first two opening on 20 September in Chatteris, Cambridgeshire and Immingham in Lincolnshire.
"The stores to follow will include a mix of entirely new sites, sites adjacent to existing Tesco stores, and a small number of converted Tesco stores." says Lewis.
As well as the discounters, Tesco faces being overtaken as the UK's biggest supermarket chain by a combined Sainsburys and Asda. The German duo have eaten up their market share by offering products at knock down prices.
Over the next six months Tesco will launch 10 to 15 Jack's stores in the UK. "He's an inspiration for all of us and that same spirit still drives Tesco now".
The group intends to both open new supermarkets and to transform a few shops Tesco in Jack's, which will create 250 jobs.
Products grown or manufactured in the United Kingdom are set to make up 80 per cent of all items sold, the firm said, while 1,800 of the 2,600 brands will be under Jack's own label.
The shelves will be stocked with an own-brand range, also named Jack's, however stores will also stock some well-known grocery brands and a range of general merchandise.
Britain's "big four" grocers are trying to adapt to changing habits, including the declining popularity of big weekly shops and the growth of online shopping.
Tesco is stepping up its fightback against Aldi and Lidl with the launch on Wednesday of its own cut-price chain, Jack's.
In a statement the company simply said it would be "sharing some exciting news" after earlier advertisements for staff for a "new store format" in Chatteris.
Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: "Jack's isn't going to make an immediate dent in the competition's market share - not at the rate of openings announced today".
Sainsbury's joined up with Denmark's Dansk Supermarked in 2014 to bring the Netto discount brand back to Britain but closed its 16 stores two years later, blaming the difficulty and cost of growing at pace and scale. It ditched the concept.
"It goes without saying, but 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".