Schwarz Group, the controlling company of Lidl, has set itself the target of breaking the €100 billion sales mark over the next five years, with Lidl's US discount model a key component in this strategy, Lebensmittel Zeitung reports.
An enlargement of Lidl activity globally will be the cornerstone of the ambitious expanison, along with the further development of Schwarz's other hypermarket chain, Kaufland.
Klaus Gehrig, the group's chief executive, has said that “billions” of euro will be pumped into revamping existing stores for both chains, as well as into building new stores.
Hypermarkets with floor space of about 10,700 square feet will the main points of focus.
Gehrig believes that increasing US penetration “gradually” will be the most effective means of achieving prominent control of its market share.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly.
