The British arm of the German discount supermarket Aldi announced on Thursday that it has raised its long-term target to 1,500 stores, stating that billions of pounds will be invested to achieve this goal. Aldi UK, which previously aimed for 1,200 stores in the UK by 2025, is opening its 1000th store in Woking, South England, on Thursday.
Aldi UK is the fourth-largest supermarket group in the UK after Tesco, Sainsbury’s and Asda. According to research firm Kantar, it holds a market share of over 10%.
“The next phase of our expansion will involve another 500 new stores over the coming years. It is a long-term target and is not a ceiling to our ambition to have an Aldi store close to everyone in the UK,” said CEO Giles Hurley.
Aldi UK has announced plans to open 20 more new stores by the end of the year as part of a two-year investment plan worth £1.3 billion ($1.62 billion).
Both Aldi UK and its counterpart, Lidl GB, are the fastest-growing grocery retailers in the UK. Their appeal has grown during the ongoing cost-of-living crisis, now in its second year, and unlike traditional competitors, they continue to open numerous new stores.
