Aldi opens its 700th store in the UK

German discounter Aldi has launched its 700th store in the UK. The supermarket chain plans to have 1000 stores in the UK by the end of 2022. Aldi said in a press statement that its 700th store in the country was opened in Whitstable, Kent. This store is one among the 70 outlets the discount retailer is planning to open during 2017.

Aldi has earlier announced that it will invest £450 million for store renovation and improving distribution networks. Since 2012, the discounter supermarket has spent more than £1.7 billion in the UK to setup new stores and renovate the existing ones. This also includes setting up new distribution centres across the country.

Aldi currently has over 14 million customers in the country and is the ranked as the fifth largest supermarket in the UK by market analyst Kantar worldpanel.  Aldi UK boss Matthew Barnes said that there were many potential customers who would like to shop with Aldi but could not do so as they don’t have an Aldi store near where they live. He added that the supermarket want to change this by opening stores in every major city across the country.

The German discounter has also announced opening of its ninth UK distribution center in Cardiff, Wales by the end of March 2017.