Aldi to open 700 new stores in Europe

German grocery discounter Aldi is investing in expanding its retail network in the European market.

German food discounter Aldi is investing in expanding its retail network in the European market. The food giant plans to open an additional 700 new stores over the next three years.

By 2026, the retailer aims to increase its retail network to 6,000 stores. As of the third quarter of 2023, the company has 5,300 discounters under management.

The most significant growth of the network will occur in the markets of France, Spain and Poland. This was reported by Lebensmittel Zeitung concerning CEO Thorsten Hufnagel.

Previously, Aldi aimed to open new stores in the domestic market in Germany and had to reduce its presence in Denmark drastically. It is known that the retailer has already raised funding for the development of the chain. After scaling the network, the company expects to direct profits to the program to reduce prices.

In September, it became known that Aldi was creating a separate holding company for its European operations outside Germany. Last week, the grocery giant also announced a reshuffle in the board of directors, from which the last representative of the founding family Albrecht left.