Aldi Plans For $1.8 Billion Investment in British Operations; Giles Hurley Discusses
LONDON, ENGLAND - There are many weekly tasks we must check off of our to-do lists, but store openings? That is a new one for this trade news writer. Aldi has revealed its plans for just this, as the retailer will invest £1.3 billion ($1.8 billion) in the British market over the next two years with plans to open a new store every week.
"Around 88 percent of British consumers want to shop in stores…There's no doubt that brick and mortar is the focus for our business," Giles Hurley, Chief Executive Officer of Aldi UK and Ireland, told reporters.
According to Reuters, a total of 100 Britain-based stores are in the works, as well as logistics expansions, investments in technology, and a new distribution center in England. This monumental growth strategy poses Aldi to compete with other big-name grocers fighting for British market share.
Hurley also stated, according to the news source, that Aldi is well positioned to make this investment, as the company’s strategic positioning allowed it to thrive throughout the pandemic. He credited a smaller product range, and therefore a smaller supplier network, as key to this success.
"That means our supply chain is just that little bit shorter and easier to control," he said. "It's very much business as usual. Yes things are tighter, but our trucks and our deliveries are rolling across the U.K., our stores are full, and we'd encourage customers to shop as normal."
Overall, Aldi's investment in the United Kingdom will create over 2,000 new jobs by next year, building on the 7,000 roles that were created in the past two years.
As we watch this investment strategy play out, be sure to stay in the know with ANUK.