VILNIUS - Maxima Grupė, the owner of retail chains in the Baltic countries, Poland and Bulgaria, has approved an operating strategy through 2025 outlining long-term vision, its main goals and priorities for development. Most important priority is transformation focused on improving customer experience and creating better work environment for employees. Investments of 600 million euros over 7 years into existing and new stores are planned.
“During two decades of operations, Maxima has built a Lithuanian business success story: from one store in Vilnius it became the retail leader in the Baltics. We understand that to go from being a strong regional player to a successful international company, we have to change. We want to be valued not just for having a broad network of stores, a wide assortment and good prices, but also for quality service and a pleasant shopping experience. That will require the contribution of every employee, so we want to make respect for employees, their engagement and empowerment, an integral part of the culture of our organization,” says Dalius Misiunas, the Chairman of the Board and CEO of Maxima Grupė.
More than a hundred employees of group companies from five countries directly participated in drafting the strategy, according to Misiunas.
The main goal set out in the strategy is to be appreciated choice for everyday. Value for customers will be created through a more convenient shopping experience in stores, integrated digital channels, a wide assortment, and a good price-quality ratio. The latter will be ensured by increasing companies’ operating efficiency, thus reducing costs and, consequently, prices. The strategy foresees saving 500 million euros over 7 years thanks to more efficient business management solutions.
“Money saved as a result of increased efficiency will be invested in customer experience - developing our chain of stores closer to homes, increasing our product range, and continuing to offer our customers better prices. This strategy anticipates sustainable business growth by introducing innovations and further investing in the most significant aspects of our operations, primarily employee growth and development, strengthening collaboration with our partners and solving the current needs of society,” explains Andris Vilcmeiers, the Chairman of the Board of Maxima Latvija.
Key tasks in the strategy also include sustainability of operations. “We’re committed to achieving our objectives responsibly, ensuring the welfare of our customers and employees, building trust-based relationships with partners, encouraging and supporting local producers, and protecting the environment,” Dalius Misiūnas says.
Along with internal changes, the Maxima Grupė strategy also foresees rapid international expansion, with investments of nearly 100 million euros a year through 2025 – at least 600 million euros in total.
These investments will go to strengthening the network of stores in existing and new markets and to developing new sales channels. The aim is for group’s turnover to grow by 7 percent every year.
“Last year we took several important steps with an eye to active expansion: we acquired and integrated retail chains in Poland, and also were among the first in the region in issuing 300-million-euro bonds. That’s a firm basis for pursuing further international expansion,” the group’s CEO notes.