ESSEN, NORTH RHINE-WESTPHALIA - Aldi is currently mulling over the possibility of entering the potent Chinese retail market. According to Reuters, the German discount grocery chain is looking for new areas for growth outside of its traditional mature markets. With China still largely untapped by outside retail chains, the country must present a tantalizing possibility. Consultancy Planet Retail is reporting, however, that if Aldi does decide to expand into China, it does not expect the retailer to do so until 2018 at the earliest.
"Aldi thinks in decades rather than years, so the general conditions and the long-term outlook with higher single-digit growth rates in real terms look promising (in China)," said Matthias Queck, Research Director at Planet Retail.
The rumors began when the German monthly, Manager Magazin, reported that Aldi's controlling families had decided in February 2013 that it was worth looking into the possibility of Chinese expansion. In such a case, Aldi Sued would be responsible for entering the Chinese market while Aldi Nord would decide on two additional countries to enter afterward No time frame was specified, however.
Aldi Sued has not yet reached a decision regarding this possible venture, according to Reuters. If any decision is reached, however, you can count on AndNowUKnow to bring you the news. Stay tuned.
