German-headquartered discount grocer Aldi US has revealed plans to open 900 new stores by the end of 2022.
That would take its store count to 2500 nationwide, making it the US’ third largest grocery retailer behind Walmart and Kroger.
Aldi US will invest US$3.4 billion in the opening new stores and a further $16 billion already announced in refurbishing 1300 existing sites. The company currently operates 1600 stores in 35 states.
The move is in part to guard against the imminent arrival of rival German discounter Lidl, which makes its US debut on June 15 and plans 100 stores along the east coast by the end of 2018.
“We’re growing at a time when other retailers are struggling,” said Aldi US CEO Jason Hart.
“We pioneered a grocery model built around value, convenience, quality and selection and now Aldi is one of America’s favorite and fastest growing retailers. We are giving our customers what they want, which is more organic produce, antibiotic-free meats and fresh healthier options across the store, all at unmatched prices up to 50 per cent lower than traditional grocery stores.”
This story first appeared on sister site Inside Retail Asia.
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