Discount retailer Lidl has confirmed plans to invest EUR45m (US$58.9m) on the revamp of its store network in Portugal.
The retail group said today (19 April) that it has increased its investment in the country by 25% on last year. The investment will include an upgrade, refurbishment and expansion of its current store and logistics infrastructure.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In addition, this will include the construction of a new headquarters for Lidl in the country. Building on the Sintra-based building will begin in June. The 250 staff employed in the country’s central offices will relocate to the new offices.
Around EUR15m will be spent on the new facility, which is expected to be complete by 2014.
Despite the economic situation facing the country, Lidl said it will create 60 new jobs this year with the investment.
Lidl, which operates in 20 European countries, currently has around 10,000 stores, which represented, in the fiscal year 2011, a net turnover of EUR45bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
