Aldi Hits British Supplier Target Earlier Than Expected
Aldi has met its long-term commitment to increase spending with British suppliers.
In 2020, the discounter pledged to spend an additional £3.5bn a year with British suppliers by the end of 2025. However, it announced today that it has already surpassed this target, spending more than £14bn with UK businesses in 2024.
Giles Hurley, Chief Executive Officer of Aldi UK, commented: “British suppliers have always been at the heart of our business. From homegrown apples to Wagyu beef, and from crisps to cocktails – our range is full of incredible British products sourced from our amazing suppliers right here in the UK.
“We remain committed to buying British wherever we can, and surpassing our annual spending target ahead of schedule is a testament to that. By working closely with British businesses, we continue to champion local suppliers and support the UK economy.”
Last year, Aldi signed a 20-year agreement with family-owned fruit farm A C Goatham & Son in Kent to create a 200-acre Aldi Orchard to supply the chain’s entire core range of British apples. And last month, the discounter revealed that it had signed a new contract worth around £320m over the next five years with Yorkshire-based beef supplier Warrendale Wagyu.
Hurley concluded: “Hitting this milestone early is a proud moment for us and for the thousands of British suppliers we work with. Their hard work and dedication are what helps us deliver great quality and value to our customers every day.
“As we look ahead, our British suppliers can know that we’ll continue to stand alongside them – just as we have for the past 35 years.”
Aldi is celebrating its 35th year in the UK this weekend, having made its debut on 5th April 1990, opening a store in the Stechford area of Birmingham.
NamNews Implications:
* A 300% increase on its Buy British strategy says a lot…
* And given that the future of UK retail is much about Retail Media..
* ..in turn based mainly upon optimising the use of brands' First Party Data..
* Brand suppliers should prepare now for Aldi’s inevitable move towards a 50/50 brand-surrogate label balance
* As the Discounter remodels its business to optimise the potential of Retail Media...
Aldi BuyBritish RetailMedia
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