German discount retailer Aldi is aiming to expand its presence in Australia by 30 new stores over the next year, the company has said.
Aldi plans to reinvest A$183m in its Australian operations, and has not taken any profits out of the country for the last financial year, reported Business Day.
The new stores will add to the company’s current 251 outlets and five distribution centres across eastern Australia, which bring in an annual revenue estimated at around A$1bn.
Aldi is the main challenger to the current effective dominance by the Wooworths and Coles supermarket chains in Australia’s retail sector.
The chain faces greater hurdles to expansion than those two dominant retailers, and claims state and local planning laws have obstructed it obtaining quality real estate.
Aldi’s fresh produce approach stocks a smaller number of lines, and tends to focus on seasonal products to hit the lowest price points.
