Good for Business, Latvia, Markets and Companies

When the company was established, its share capital was worth EUR 500,000. In February 2017 it was raised to EUR 10.5 mln and in December of the same year to EUR 20.5 mln. In October 2018, the share capital of Lidl Latvia was further increased to EUR 35.5 mln.

As reported, Lidl Latvija plans to open a logistics center and at least 10 Lidl stores in Latvia by 2020.

Lidl Baltics representative Valdis Lopets told LETA earlier that Lid plans to expand its business in Riga and also in other cities in Latvia.

Lidl began preparing for entering the Baltic market in 2003 but later changed its mind and sold all land parcels bought in the Baltic countries, explaining that the Baltic market was too small. The company nevertheless made a good profit in Latvia, without even opening a single store, because it sold the properties bought in Latvia at profit. 

Lidl Latvija total profit in 2006-2008 amounted to LVL 7.2 mln (EUR 10.24 mln), according to Firmas.lv data. Part of Lidl properties were acquired by Estonian chain stores A-Selver, which also had to leave Latvia eventually due to the economic crisis.

In the summer of 2017 Lidl again announced its plans to enter Latvia.

Lidl Latvija, originally named MMS Property Solutions, was registered in 2016. The company's share capital is EUR 20.5 mln, its sole owner is CE-Beteiligungs-GmbH, which also owns Lidl Lietuva.