Aldi To Open 70 New Stores
German retail giant ALDI is set to open 70 new stores across the United States by the end of the year as it seeks to accelerates its global expansion.
Reported by NYPost, the company’s US arm is pursuing a $5 billion growth strategy – contrary to the closure of many American chains amidst the coronavirus pandemic:
“As we continue to expand, we promise to do everything in our power to offer the lowest prices, every day, without exception,” states ALDI US Chief Executive, Jason Hart, in a statement.
Market commentators asserts ALDI is on track to become the United States’ third largest grocery chain in terms of store number by 2022.
The figures seeks to push ALDI to around 2,500 stores in the States, behind Walmart with 4,700 US locations.
ALDI is reportedly also beginning construction on a US regional headquarters next year, to serve states like Florida and Louisiana.
The news comes as ALDI continues to make waves in Australia in terms of market share and growth, contrasted by the multi-million dollar local exit of German supermarket giant Kaufland earlier this year.
Kaufland was tipped to be a notable competitor to Australia’s retail industry, preparing to reportedly release around a $459 million investment.