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German retailer Lidl opens first stores in Lithuania

Xinhua, June 3, 2016 Adjust font size:

German-based retailer Lidl launched its first 15 stores in 10 Lithuanian cities and smaller towns on Thursday prompting numerous customers to queue outside in order to shop at the stores the very first day.

Vilnius mayor Remigijus Simasius and Lithuanian legend of basketball Arvydas Sabonis, who became the main advertising figure for Lidl in the Baltic country, became one of the first shoppers in one of the newly-opened Lidl store in the capital Vilnius.

Five grocery stores were opened in Vilnius, two in second largest city Kaunas, while eight more are located in other major regional towns, including seaport city Klaipeda.

"We will have more than 20 stores by the end of the year," Radostin Roussev-Peine, chief executive of Lidl Lithuania told local media earlier this week.

"We have long term plans here," he added.

The company said its investments into launch of the first stores in Lithuania amounted to 60 million euros (67 million U.S. dollars). It plans to invest another 60 million euros next year, local website vz.lt reported.

Lidl executives claimed the chain is ready to attract Lithuanian shoppers by significantly lower prices to compare with local retail players.

"We are happy to present in Lithuania our worldwide famous business model which is - the best quality for the best price," Roussev-Peine was quoted as saying in a company's statement.

There are four main local retail chains in Lithuania - Maxima, Rimi, Iki and Norfa.

Algirdas Butkevicius, Lithuania's prime minister, expressed his hope that the launch of German supermarket chain Lidl in Lithuania will boost competition which may lead to price decrease.

In Lithuania, Lidl offers an assortment of 1,600 food and household items produced in Germany, Poland, France, Italy, Spain and elsewhere, also locally produced products.

"The company pays attention to local demand and likings of local customers," Lidl said in a statement.

Lithuania has become the 27th country where Lidl operates. The retailer is set to operate in 29 countries globally by 2018. The retail chain is preparing a market entry to the United States and Serbia in 2018.

Lidl announced plans to enter Lithuania's market back in 2002, however, these plans were put on hold later. Endit