Lidl's parent company grows strongly

Lidl's parent company grows strongly

Schwarz Gruppe, Lidl's parent company, has had a good fiscal year, with a 10 % increase in turnover. The increase helps it draw closer to the largest European retailers, Carrefour and Tesco. The company will however not reveal any profit figures.

Better than German competition

According to the German media, Schwarz's turnover grew 10 % to 74 billion euro, of which 54 billion euro came through discounter Lidl. The company aims to increase turnover once more next year, to 78 billion euro.

 

Thanks to nearly 10,000 Lidl stores and another 1,150 Kaufland hypermarkets, the company inches ever closer to the largest European retailer, while moving away from its German competitor Metro Group. The latter had a 65 billion euro turnover in its fiscal year 2013.

Questions or comments? Please feel free to contact the editors


Arket Brussels opens: discover H&M's latest concept

14/09/2017

On Friday 15 September, H&M Group’s new store formula opens its doors on the Guldenvlieslaan in Brussels. The press got a sneak preview and discovered a surprising mixture of fashion, interior design and food. 

Nordstrom opens store without storage

13/09/2017

Fashion chain Nordstrom will open a new store formula in Los Angeles next month. Customers will only be able to get advice and try out clothing. Purchases can be picked up at the store at a later date.

Primark benefits from weaker British economy

12/09/2017

Irish fashion chain Primark takes full advantage of the weak British economy, which prompted its parent company AB Foods to adjust its full-year forecast. The chain will also continue its expansion plans.

Participatiemaatschappij Vlaanderen invests in FNG

11/09/2017

Government investment fund Participatiemaatschappij Vlaanderen (PMV) will invest 15 million euro in fashion group FNG in return for 5 % of its shares. The money will go towards international expansion.

Gap Inc will focus on Old Navy and Athleta

08/09/2017

American fashion company Gap will alter its internal strategy and turn its attention to Old Navy and Athleta. Gap and Banana Republic, which both received the most attention up until now, will have to step aside.

Global Fashion Group cuts losses

08/09/2017

Global Fashion Group, the fashion group founded by investment group Kinnevik and Rocket Internet, managed to lower its losses even more in the second quarter. On top of that, turnover grew more than 25 %.

Back to top