Belgian retailer Colruyt has indicated that it wants to grow its market share in its domestic market as well as in neighbouring France.

A spokesperson for the company confirmed that Colruyt hopes to grow its share of sales in Belgium, which currently stands at about 23%.

During an interview with Belgian newspaper De Tijd, CEO Jef Colruyt said that a market share of 30% in Belgium was "not inconceivable".

"We see that there is an opportunity to grow in our home market," the spokesperson said.

However, while Colruyt conceded that there are "limits" to the growth potential offered in Belgium, where the company is already a major player, the company has also targeted expansion in neighbouring France.

Colruyt has been active in France for 13 years, with the majority of its stores concentrated in the northeast of the country.

However, last week the company opened its first outlet in Paris, marking a "new phase" of expansion for the group in France.

"Our strategy is to start building our store network in central France," the spokesperson revealed.

The company declined to provide specific growth targets for its expansion in either market.