Research: Aldi and Lidl are set to benefit most from Brexit

Supermarket chains Cora and Carrefour have begun proceedings to extend their joint purchasing agreement into the future. Whether such a renewal is feasible or not will be decided by L'Autorité de la Concurrence. Commenting on the issue, the body stated that, “We deemed it the case that this matter should be referred to us, and thus a report will be drawn up before it can go ahead,” according to Linéaires.com. (esmmagazine.com)

Discount supermarkets Aldi and Lidl are set to benefit most from Brexit, according to a new report yesterday. Researchers say the German discounters are in line to do better in the short and medium term from Britain’s decision to leave the EU than the other major supermarkets in the UK. The report says: “There are several factors which will help discounters Aldi and Lidl absorb the rise in food prices and inflation – namely the limited range, having the leanest supply chains in retail and most importantly their economies of scale. Please, click here to read more at thesun.co.uk. 

BREXIT: UK Food retailers to be on the defensive, says Bernstein
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Thailand’s leading food retailer Central Food Retail has announced that it will allocate Bt.6.5bn (US$183.8m) to expand its store network over the next five years. It’s aiming to add 70 new stores every year which will boost the total number of stores from 205 to 600 by the end of 2021. (igd.com)

The supermarket chain Soriana plans to open 100 new stores over the next five years, of which 4% will operate under the new up-market Híper Miyana brand. General manager Humberto Fayad Wolff said five of the high-end stores, which offer gourmet and organic products among other offerings, will open over the next 18 months. (mexiconewsdaily.com)

Reem Mall, Abu Dhabi’s US$1bn mall slated to open late 2018, has announced Carrefour as the hypermarket operator on the development on Reem Island. Reem Mall is being developed by Kuwait’s National Real Estate Company (NREC) in partnership with United Projects for Aviation Services Company (Upac). It is a 2 million sq ft retail, leisure, dining and entertainment destination, located on the eastern side of Abu Dhabi’s mainland which will eventually be home to more than 210,000 residents. (thenational.ae)

Cosco Capital Inc. is injecting P7.2 billion in capital for spending this year, mainly for the expansion of its supermarket, liquefied petroleum gas, and real estate units. About P1 billion will be spend on expanding the supermarket unit with 25 stores. (manilatimes.net)

UAE-based retail major Lulu Group has opened its first hypermarket in Kuala Lumpur, Malaysia, as part of its plans to further consolidate its retail presence in the Far Eastern region. Lulu had recently announced its plans to set up 10 hypermarkets in Malaysia over the next five years at an investment of $300 million.