Home » Business » Maxima will invest 50 million euros in the development of its stores this year

Maxima will invest 50 million euros in the development of its stores this year

Vilcmeiers revealed that this year “Maxima Latvija” plans to reconstruct about ten stores, but plans to open new stores once or twice a month, investing a total of about 30 million euros.

Kristīne Āboltiņa, a member of the board of Maxima Latvija, said that 2019 will be more intensive than the previous year. According to her, this year the company will mainly work on raising operational excellence, improving the customer shopping experience by purchasing new technologies, and developing Maxima food production.

Āboltiņa pointed out that in the development of food production it is planned to create a new food workshop concept this year. In turn, its construction and further development may be discovered next year.

Jānis Vanags, a member of the board of Maxima Latvija, also pointed out that this year Maxima Latvija plans to strengthen the quality of the food category, as well as develop world-class quality management and CSR or “man, world and product” principle, as well as introduce artificial intelligence in daily work.

Viktors Troicins, Member of the Board of Maxima Latvija, noted that the goals for 2019 include adjusting the assortment to the needs of the buyer, devoting more time to data analysis, ensuring lower regular prices for all goods, as well as developing personalized offers on the Maxima Internet portal.

Maxima Grupp, the manager of the Maxima Latvija store chain, has approved an operational strategy until 2025, which envisages investing 600 million euros in the modernization and expansion of the store network over seven years.

Maxima Latvija’s turnover in 2017 was 723.054 million euros, which is 4.2% more than in 2016, but the company’s profit increased by 93.9%, reaching 23.224 million euros.

Maxima Latvija is wholly owned by Lincoln Land Erste BV, a company registered in the Netherlands. The company’s store network consists of 161 outlets in four formats – six “Maxima XXX”, 24 “Maxima XX”, 128 “Maxima X” and three “MaximaExpress”.

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