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International Internet Magazine. Baltic States news & analytics Tuesday, 20.08.2019, 19:28

Maxima Latvija retailer to invest up to EUR 50 mln in development this year

BC, Riga, 14.02.2019.Print version
Maxima Latvija retailer in line with Maxima Grupe strategy this year will invest up to EUR 50 million in development of the store network, Maxima Latvija board chairman Andris Vilcmeiers told the press cited LETA.

Vilcmeiers said that Maxima Latvija plans to renovate about ten stores, and open new stores once or twice a month.

Maxima Latvija board member Kristine Aboltina said that 2019 will be more intense than the previous year. This year the company will work on operational excellence, improve customers’ shopping experience, purchase new technologies and develop food production.

Maxima Latvija board member Janis Vanags said that the company this year plans to strenthen the quality of food category and develop the world-level quality management.

As reported, Maxima Grupe, the largest retail group in the Baltics, plans to invest at least 600 million euros in reinforcing and expanding its chain and expansion over seven years.

Maxima Latvija turned over EUR 723.054 mln in 2017, up 4.2% against a year before, while the retailer’s profit grew 93.9% to EUR 23.224 mln.

Maxima Latvija is fully owned by Dutch-registered company Lincoln Land Erste B.V, according to

Maxima Latvija, founded in 2000, is one of the leading retail chains in Latvia. At present there are 161 Maxima stores across Latvia: three Maxima Express stores, 128 Maxima X stores, 24 Maxima XX supermarkets and six Maxima XXX hypermarkets.

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