The discount supermarket Lidl has its sights set on bringing its low-cost offerings to affluent London areas such as Mayfair and Chelsea, as part of a half-billion-pound expansion initiative.
Lidl, a German-owned enterprise boasting a 7.8% share of the º£½ÇÊÓƵ grocery market per the most recent Kantar data, has published an extensive list of over 200 prospective sites in London where it aims to establish new stores, as reported by .
These coveted locales span trendy districts like Kensington, Notting Hill, Angel, Soho, and Covent Garden, alongside suburban hotspots including Finchley, Colindale, and Uxbridge.
The company is targeting a diverse array of locations, encompassing high street spots, retail parks, and shopping centres.
By offering a finder's fee for the introduction of new sites, Lidl hopes to unveil as many as 40 fresh stores by the conclusion of its next fiscal year.
Richard Taylor, Lidl GB's Chief Real Estate Officer, proclaimed: "This level of investment is a clear sign of our ambition."
He continued, stating that as the company embarks on its fourth decade in the º£½ÇÊÓƵ with nearly a thousand stores in its sights, there remains a considerable number of areas craving convenient access to a Lidl outlet.
Taylor added: "New Lidl stores mean new jobs, new opportunities for British suppliers, and continued investment into local economies."
Over the past 30 years of its º£½ÇÊÓƵ operations, Lidl reported a surge of 16.9% in revenue in its most recent financial year, translating to approximately £11bn, accompanied by a notable jump in pre-tax earnings to £220.8m.
Lidl saw an impressive influx of customers, with 35 million additional trips recorded, marking the highest annual growth among º£½ÇÊÓƵ supermarkets.
The discount retailer also attracted 326,000 new shoppers, outperforming all other supermarkets.
In contrast, competitor Asda experienced a dip in its market share, falling to 12.5% from 14.2% in 2023, while Aldi's share remained relatively stable during the same period.
