Lidl to invest another €100 million in Greece during 2017

Despite the economic crisis, Lidl Hellas managed to increase its turnover in Greece by 6.2 pct from March to the end of June 2016, the head of the discount supermarket chain Iakovos Andreanidis told the Athens-Macedonian News Agency (ANA), in an interview published on Sunday. He said this course appeared to be continuing and predicted that 2016 would end with a "pleasant surprise" regarding the company's performance.

Lidl Hellas is planning investments to expand and improve its branch network amounting to a further 100 million euros in 2017, matching the 100 million euros spent in 2016, he announced. Among these will be a new and more attractive type of Lidl store with "environmental branding", such as those recently opened in Diavata and Alikarnassos, he added.

Andreanidis noted that Lidl had created an additional 450 new jobs in 2016, bringing its total to 5,300, and also extended its network of Greek suppliers to 3,321, putting more Greek products on its shelves.

Lidl's chief said that the company welcomed greater competition in the retail market provided it was "fair" and that the company intended to continue lowering its overheads and its prices in the coming year, while its aim was to offer quality products at the lowest prices.

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Source: ANA-MPA