Aldi has set its sights on becoming one of the top ten retailers in Australia as it increases new store openings.
According to a report in The Australian Financial Review, the German-based discount retailer expects to become Australia’s tenth largest retailer by the end of the year, up from 18th last year.
The retailer’s national market share has reached 3.4% and is as high as 5% in New South Wales, data from ACNielsen has revealed.
Aldi Australia MD Michael Kloeters said the group has expanded its rate of store openings over the past year. Aldi has increased store numbers from 90 to 120 over the past year, and plans to open its 200th store by the end of 2008.
Kloeters said Aldi was aiming to operate 500 stores along the eastern seaboard over the next 10 to 20 years. “There’s potential for 500 stores in Australia – it’s just a question of time,” he said.
“Our competition do have that many stores so there’s no reason why we can’t open that many stores.”