Foreign direct investment Market Access & Entry Strategy News in brief Slovakia

Retailer Lidl Passes Tesco, now #1 in Slovakia

| 2021-09-08 < 1 min read

Retailer Lidl Passes Tesco, now #1 in Slovakia

Reading Time: < 1 minutes

In Slovakia, Tesco is now in the rear mirror for German supermarket chain Lidl, whose profits for 2020 (over EUR 126 million) have exceeded that of the British retailer, which has been the market leader in the country for some time.

Lidl overtaking Tesco in Slovakia can be attributed to the former’s revenues of EUR 1.5 billion for 2020, and the latter’s growth in the country having stalled. Observers attribute Lidl’s success to its efficient management and the increasing number of outlets in Slovakia which now number 151.

Source: Euractiv