A completely revamped management has to show German discount chain TEDi the fastest way to its target of 5,000 shops in Europe. This way, the retailer wants to stave off Dutch rival Action‘s quick expansion.
Expensive failure
TEDi’s new CEO is Croatian Petar Burazin, an internationally experienced retail manager with a previous experience at Lidl, Aldi, Kik and Woolworths. He has to get the non-food discounter back on track after a difficult period: TEDi went through a failed expansion of its textile range, which cost the company millions of euros. Moreover, the discounter is facing increasing competition from its fast-growing rival Action, even in its home market, Lebensmittel Zeitung reports.
Owner Stefan Heinig has therefore replaced TEDi’s entire upper management in recent months, with the new CEO as the final step. TEDi currently has almost 3,000 shops in Europe and aspires to have 5,000. The retailer recently launched in France and Belgium.
