Discount Retail Chain Lidl Portugal (owned by the German Schwarz Group) plans to invest approximately €200 million (US$207 million) in Portugal in 2022 as it aims to expand operations in the country and offer quality products at the best price to more consumers.
The discounter aims to invest €125 million (US$129 million) in remodelling, modernising and opening new stores to offer shoppers a convenient and swift shopping experience. By the end of 2022, the retail chain plans to renovate around 25 stores, including the launch of six new stores. In addition, it will contribute to rehabilitating the surrounding areas, making life easier and supporting the local communities where it operates.
Store Network
Lidl entered Portugal in 1995 and currently operates a network of more than 269 stores located across the country and four warehouses located in Santo Tirso, Palmela, Sintra and Torres Novas.
The discounter has invested €1 billion (US$1.03 BN) in the country since 2017. It accounted for 1% of the national GDP in 2018, according to an economic impact study carried out by the independent consultant KPMG.
In 2020, Lidl opened a new semi-robotised warehouse in Santo Tirso, which led to the development of a new industrial area in the North of the country and the creation of 200 new jobs.
It is also building a new warehouse in Loures, to reinforce the supply and storage capacity of its stores in the central region. In February, the discount chain said it invested €21 million (US$ 22 mn) across its Portuguese network, furthering its commitment to the region.
See here for more: https://www.esmmagazine.com/retail/lidl-to-invest-e200m-in-portugal-in-2022-205208
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