Lidl Hellas to invest 85-100 million euros in 2018

Lidl Hellas plans to invest around 85-100 million euros in 2018 to modernize its stores, open new ones and to install bake off sections throughout its network in Greece, Iakovos Andreanidis, head of Lidl Hellas said.

Presenting the “1st report of sustainable growth” for the years 2015/2016, Andreanidis said Lidl Hellas invested 100 million euros annually in the years 2016 and 2017 to develop its network, buy land property, expand its logistics and modernize its existing stores. He said the company planned to expand its network both in urban areas and in the Greek islands, by developing a new generation store plan, first in Piraeus (in December) and in Athens, Larisa and Thessaloniki in 2018.

“The country’s economic condition brought big changes in the retail commerce sector, changes which are expected to continue,” Andreanidis said, adding: “We try to adhere to our business plan”, while he expressed his satisfaction over the fact that the company raised its turnover by 7.0 pct in 2016 and its network reached 221 stores.

Lidl Hellas its total added value created in 2015 was 616 million euros and 659 million in 2016, while total added value created to the Greek economy in 2015 was 0.35 pct of GDP and 0.37 pct of GDP in 2016.

The company contributed 230 million euros to state tax revenue in 2015 and 244 million in 2016, along with 17,413 job positions in 2016, up 6.5 pct from 2015.

The company has set a top priority the supply of products from the Greek and local market by cooperating with more local suppliers.