Lidl Hellas is planning investments of 120 million euros over the next three years 2024-2026.As the president of the company, Martin Brandenburger, said in a press conference, the investments will mainly concern logistic centers.
More specifically, he explained that in addition to the existing structures that will be strengthened, a new transit center in Greece is being planned for the new year, he stated.
Lidl Hellas has made investments of a total amount of 1.4 billion euros since 1999 that the company has been active in the country.
Positive performance in the current fiscal year
Regarding this year’s performance, the head of the company described it as “encouraging” and expressed optimism for a positive course until the end of the current fiscal year ending in February 2024.More specifically, Brandenburger underlined that “we increased the number of our visitors and enlarged our basket” while he pointed out that the main competitive advantage of Lidl Hellas is the price range, as the chain is 10% cheaper than the competition in about 200 products (based on internal research) while it has proceeded with a permanent price reduction of up to 37% on over 330 private label codes.It should be noted that PLs make up 70% of the total of 4,000 codes while they amount to 80% of the total turnover.
Cooperation with 450 domestic producers
Apart from the prices, Brandenburger pointed out that the company is a reliable partner for Greek suppliers as the average payment is 41 days compared to the market average of 117 days.At the same time, it proes products from its collaboration with 450 domestic producers in 31 markets, which translates into an export turnover of 460 million euros in 2022.
6,700 employees
The company also has 6,700 employees in 230 stores and logistic centers.Moreover, as of December 1, the company will proceed with a salary increase so that the minimum salary will rise to 1,000 euros gross for all full-time employees.
