Maxima Grupė has announced that it has approved a new long-term operating strategy that centres around transformation and expansion.
Its transformational goals, up to the year 2025, include improved customer experience and a better work environment for employees.
The retailer aims to invest around €600 million over the next seven years in renovating existing stores and launching new ones.
More than a hundred employees from group companies, across five countries, participated in drafting the strategy, the company said.
International Expansion
Chairman of the Board and CEO of Maxima Grupė, Dalius Misiūnas, said, "We understand that to go from being a strong regional player to a successful international company, we have to change.
"That will require the contribution of every employee, so we want to make respect for employees, their engagement and empowerment, an integral part of the culture of our organisation.”
The retailer plans to improve customer experience by creating a more convenient shopping experience in stores, integrating digital channels, offering a wide assortment, and a good price-quality ratio.
Price-quality ratio will be ensured by increasing the group's operating efficiency, which will result in reducing costs and consequently have an impact on prices.
The company foresees a savings of €500 million over the next seven years through this move.
Sustainable Growth
"We’re committed to achieving our objectives responsibly, ensuring the welfare of our customers and employees, building trust-based relationships with partners, encouraging and supporting local producers, and protecting the environment," Misiūnas added.
The retail group will invest around €100 million a year, through to 2025, to strengthen its the network of stores in existing and new markets and to developing new sales channels.
It also aims to generate 7% annual growth in the group’s turnover.
“Last year we took several important steps with an eye to active expansion: we acquired and integrated retail chains in Poland, and also were among the first in the region in issuing 300-million-euro bonds. That’s a firm basis for pursuing further international expansion,” the CEO highlighted.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
