Waitrose Unveils Ambitious Expansion Plan For 2010
Upmarket grocery retail chain Waitrose has unveiled ambitious plans to double its sales and share of the British grocery market during the next ten years.
In an interview with Retail Week, Waitrose chief, Mark Price says he would like the retailer to increase its market share from the current 4.3 per cent to around 8 per cent. An increase in market share of that size would mean that the retailer’s sales would jump from £5 billion at present, to £10 billion by 2020.
Mr. Prices says the retailer intends to focus on opening new stores both domestically and internationally. Waitrose expects to open at least ten new outlets across the UK during 2010, some of which will be smaller convenience stores. The company expects to open a further 30 stores during 2011.
Mr. Price, who was named retail leader of the year at the Retail Week awards says that the company intends to build upon its existing partnerships such as the one it has with health and beauty chain Boots.
Mr. Price expects Waitrose to end the year as the fastest growing supermarket chain for the second consecutive year.
“The economy will give us nothing this year and there will be no easy wins, but our plans are well developed and we’re confident,” he said.
Waitrose, the grocery division of the John Lewis Partnership is widely expected to launch a smaller convenience store format within the next couple of months.
Please Note - All Prices Quoted Are Correct at Time of Posting
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