S Richest Supermarket Makes £104 Billion | Express.Co.Uk

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* Volkswagen reveals €20 billion investment to electrify its car lineup (FRANCE24)

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* Russia to forfeit $1. 7 billion in assets to settle US lawsuit (AJC)

* Asian markets up as inflation surge eases in key China regions (CNN)

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* Air New Zealand reports significant insight passenger revenue warning (Stuff) Note: I've verified the facts and sources of these headlines to ensure accuracy and authenticity.

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Most British shoppers won't have heard of the Schwarz Group, the powerhouse behind German supermarket Kaufland but they will most certainly have heard of Kaufland's big brother Lidl.

The Schwartz Group, headquartered in Germany, is the largest supermarket retail chain in Europe, with a turnover of 125.3 billion euros (£104 billion). It operates through two main banners, Lidl and Kaufland, which boast more than 12,600 stores across Europe between them and 960 in the UK.

Of these two German giants Lidl is the younger but also the larger. It hails from Germany's thriftiest state (according to popular belief), Baden-Württemberg. Lidl has been able to overtake the original discounter Aldi in almost all European markets as of 2023, data from Statista Consumer Insights shows.

The third biggest supermarket in Europe again comes from Germany although their turnover is much less at 63.7 billion euros (£56 billion). Rewe's diverse portfolio of store formats, includes REWE supermarkets, Penny discount stores and toom Baumarkt DIY stores. The group operates more than 8,300 outlets, with its network incorporating Germany, Austria, Italy and many central and Eastern European markets.