UK: Aldi to invest £1.3 billion to push British market

German discount retailer Aldi has announced an investment of £1.3 billion ($1.8 billion) in Britain over the next two years to accelerate its growth in market share.

Aldi is Britain’s fifth-largest supermarket group with rapid growth over the last decade. The retailer counts with 920 stores in the UK, and it is planning to open 100 new stores, expand its logistics infrastructure, including a new distribution centre in central England, and invest in technology, in addition to creating 200 new jobs.

“Around 88% of British consumers want to shop in stores … There’s no doubt that bricks and mortar is the focus for our business,” Giles Hurley, the CEO of Aldi’s business in Britain and Ireland, told reporters.

Source: Reuters