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Lidl plans to invest another EUR 60 mln in expansion in Lithuania next year

BC, Vilnius, 21.11.2016.Print version
Germany's retail chain Lidl, which entered the Lithuanian market last June, has unveiled plans to invest around 60 mln euros in expansion next year, the same amount as this year, but it would not disclose how many new stores it expects to open in the country in 2017, reports LETA/BNS.

"This year we have invested 60 mln euros in Lithuania. We invested 40 mln euros in a logistical center and another 20 mln into the construction of stores. We are planning to invest the same amount of money next year," Lidl Lietuva CEO Radostin Roussev-Peine said in a news conference in Vilnius on Monday.


Roussev-Peine said that company currently has 21 stores in Lithuania and is opening one more in Panevezys in December.


He disclosed plans to open a store in the towns of Ukmerge and Utena each in 2017, but he did not say how many store openings the retailer is planning for next year.


Lidl Lietuva says that it has invested a total of 120.6 mln euros in buildings, land and equipment in Lithuania over three years.


The German retailer launched operations in Lithuania with the opening of 15 stores last June.





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