The star Made in Chelsea Organic quinoa may find it a little more difficult to find in your new local Lidl. You’ll find that shopping trips there are far more cost-effective than being sandwiched between the Whole Foods market.
And that’s before they encountered the temptation of eclectic discoveries within the central passage of Riddle.
The news that they might be rubbing their shoulders comes after German discount grocery store Lidl announced its ambitions to open 40 new supermarkets in the UK. This is preparing to spend around $665 million on expanding its UK store property, including a wish list of obviously upscale London locations such as Kensington, Notting Hill, Covent Garden and SoHo.
These expensive postcodes are just a few of the more than 250 potential new site locations identified across the UK capital, with a special focus on wealthy central regions, suburban sites, boulevard sites, retail parks and shopping centres.
In other words, almost everywhere.
Lidl currently has more than 120 stores on the M25 highway that are on track in London, and says there are nearly 1,000 stores in the UK.
Construction of a new regional hub in Leeds is also expected to begin this year.
“As we enter our fourth year in the UK and we are rushing towards 1,000 stores, there are still so many parts of the country that are screaming for convenient access to our Riddle stores,” said Richard Taylor, Chief Property Officer of Riddle GB. “This level of investment is a clear indication of our ambition.”
Certainly, these confident expansion plans have gained market share over the Easter Bank Holiday weekend, shortly after Lidl and its German rival Aldi, but this is the time when the larger supermarket chains will make the most profits.
Lidl’s market share rose 0.4% to 7.7%.dataAccording to NIQ, Aldi has slightly more stores than its rivals, but market share rose 0.2 percentage points to 10.5% in the 12 weeks ending April 19, reaching an all-time high when it reached 11% at the beginning of April.
Lidl, which has been operating in the UK for 30 years, has an annual revenue growth of 16.9%, surpassing $14.5 billion on its latest accounts and has just over $293 million in pre-tax revenue.
Its ambitious UK plans are reflected in the US, with Lidl’s North American business growing its footprint in New York City after its stop/start history in the US, with plans to open a store in Brooklyn after opening at the nearby Gateway Center Mall on May 23, and another in the pipeline within the Crown Heights Complex that was used.
Lidl US currently has over 170 stores in nine East Coast states and Washington, DC
Meanwhile, Aldi, which has been significantly larger than its rivals in North America, continues to expand its US, recently opening its first two stores in the Las Vegas area. Aldi’s long-term goal is to open 800 new locations by the end of 2028.
This story was originally featured on Fortune.com.
