UPDATE: Jason Hart has been promoted from co-president to a new position as CEO of Aldi U.S. to go into effect April 1, along with Aldi's continued acquisition and expansion.
Dive Brief:
- Aldi plans to bring its deep-discount grocer model to China, says a report in business magazine Manager Magazin.
- According to the report, the decision was made last year in a meeting of the two arms of the family-run businesses. In that meeting, managers decided that Aldi Sud, which has wreaked havoc in the U.K. grocer sector, would expand into China by 2018.
- The move comes roughly one year after news broke that Aldi planned a massive expansion here in the U.S.
Dive Insight:
The Chinese retail market has proven a tough one for the big Western retailers. Walmart has struggled there, and Tesco never gained any traction.
Aldi could prove an exception, but it's certainly not a sure thing - retail there is often a local business.