A former Aldi executive has disclosed the German supermarket discounter sees Australia as a “premium zone” and plans to put the pressure on local giants Coles and Woolworths by increasing its local presence.
It’s the first time anyone outside the business company has heard about the supermarket’s strategic plans. As a private, family-owned company Aldi is known for being notoriously tight-lipped.
The Australian reports the former high-ranking executive with the chain’s British region, was paid to share his knowledge with local fund managers and institutional investors via phone conference.
He revealed that Australia is one of the most profitable regions of nearly two dozen nations it operates in and that the supermarket plans to seriously challenge Coles and Woolworths.
Late last year the supermarket announced it would be increasing its number stores from 367 to 500 over the next few years, including a $700 million expansion plan for Western Australia and South Australia.
Since launching in Australia in 2001, Aldi has gained a 10% market share of the $90 billion Australian supermarket and grocery sector.
Read more here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.