Lidl Ireland Targets €700 Million Expansion Project
Discount retailer Lidl could be expanding its network in Ireland to as many as 200 stores, according to the Irish Independent.
The retailer is already set to invest €400 million in the country between 2016 and 2018, but further expansion could involve an additional €300 million.
Lidl Ireland managing director John Paul Scally told the publication that the company is "not going to stop until we have a Lidl store in close proximity to everyone in the country."
"We're not fixated on a figure," said Scally. "At this stage of our development, it's important that we get the right locations, the right sites and choose wisely."
This week, Lidl opened a new store in Portmarnock, north Dublin, bringing its total number of outlets in the Republic of Ireland to 152.
Scally said that the company is currently targeting new sites around cities including Dublin, Cork, and Galway, but it could take Lidl more than five years to increase its number of stores to 200.
"It will take however long it takes," he said. "It's important we do it right, so it's not a case of just getting the numbers on the board."
The latest figures from Kantar Worldpanel show that Lidl currently has a 12.1% market share in Ireland, with value sales increasing by 3.8% in the most recent quarter.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.