German discounter Lidl wants to open more than forty new stores in London alone in the next five years, an ambition that comes with a price tag of half a billion pounds (560 million euros).
130 London stores
The aim of that investment is to add over forty new stores, including a first one in Central London, to the existing tally of 88 London Lidls. The investment would result in 1,500 extra jobs on top of the current 5,000, and is added to the building of a new British headquarters in Tolworth (South-West London), that should accommodate 800 employees.
London has had a Lidl presence for 25 years and is "central to our plans" for the whole United Kingdom, Lidl UK CEO Christian Härtnagel says. With 760 stores in the whole country, the German chain holds a seventh place on the competitive British food market with a market share of 5.7 %.