Belgian supermarket chain Colruyt has established a wholly-owned subsidiary called Colruyt Luxembourg through which it intends to enter the Luxembourg market.
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The company said that it would do so by opening one or two test stores initially, with a view to future expansion.
“The newly established company will allow us to enter the Luxembourg market through one or two test stores,” the company said. “This is the same approach we intend to use for the Dutch market.”
After sliding in early trade today (12 February) Colruyt shares rallied, rising 1.31% to trade at EUR170.70 at time of press.
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