6 billion euro in investments
The new formula gives the stores a more modern look, with plenty of glass and aluminium parts, while also giving them a more spacious feel. The new formula dictates that stores should be at least 1,600 sqm, while the product range does not change and stays at 1,600 items. Experts believe the remodeling will cost 1.5 million euro for each and every store.
Lidl’s parent company, the Schwarz Group, intends to remodel all its 3,200 German stores over the next 4 years. Some stores will be rebuilt entirely from the ground up, which means its investment budget will increase to record height over the next year: 6 billion euro. The majority will go towards improving Lidl’s competitive position.
The company not only wants to invest in Germany, as it intends to modernize in the United Kingdom as well, while preparing for its entry into the American market.
