German discount retailer Lidl, which has 760 stores and 13 warehouses in the UK, has announced plans to expand in London with an investment of £500 million ($634 million), according to a story in the Retail Gazette.
The sum will be invested in the next five years, including the opening of over 40 new stores in Alperton, East Acton, Hackbridge, Watford and other parts of Greater London.
Plans also include Lidl’s first central London store on Tottenham Court Road, a new warehouse in Luton and the expansion of the firm’s Belvedere distribution centre.
“It’s coming up to 25 years since we first launched in London, and in that time we’ve grown to almost 90 stores, employing more than 5000 people”, said Lidl chief executive Christian Härtnagel. “London is at the heart of our growth plans across Great Britain, and we are proud to be in a position where we’re continuing to create new jobs”.
Source: Retail Gazette