Lidl has today opened its 800th store in the UK and outlined plans to spend £1.3bn over the next few years as part of its drive to reach 1,000 outlets by the end of 2023.
The discounter has opened 50 new stores in the past 12 months. However, at the end of 2019 it was revealed that Lidl wanted to accelerate its expansion programme to hit its 1,000-store target.
The company is opening four new stores today, reaching the 800-store milestone just over 25 years after entering the UK. A further six outlets will open next week.
Lidl has already opened 16 new stores across January and February. It recently opened its 100th store in Scotland and is slated to open its 100th in London this year.
Lidl stated that it was committed to investing £1.3bn in its store expansion over 2021 and 2022. This follows the bolstering of its logistics capabilities, which has included the opening and expansion of six warehouses over the last four years to support its growing store network.
Lidl’s UK Chief Executive Christian Härtnagel said: “We’re excited to have reached this milestone, which simply means that we’re bringing affordable, high-quality food to even more households across Britain … We’re looking forward to opening our doors to even more communities this year and into this new decade where we see so much potential for further growth.”
Key rival Aldi now operates more than 875 outlets across the UK with it on track to have 1,200 by 2025.
NAM Implications:
- In other words, time for branded suppliers to persuade this fast-growing discounter…
- …that more of their future lies in brands.
- Otherwise, find ways of accommodating the inevitable decline of their brand sales…
- …by having to rely on flat-line mults.
