Kroger Announces Florida Expansion Through New Investment with Lucky's Market
CINCINNATI, OH - On the heels of multi-hundred million dollar investments in both Tennessee and Michigan, Kroger is making another big move into Florida. Not through its traditional grocery stores, however, but under its newly minted partnership with Boulder, CO-based natural foods retailer, Lucky’s Market.
Under its partnership with Kroger, Lucky’s is planning to open seven new stores in Florida this year, bringing its total to ten Florida locations, according to a report by the Cincinnati Business Courier.
Currently, Kroger itself has just one Florida location—a store near Jacksonville that was acquired through its purchase of Harris Teeter two years ago. The current market dominator in Florida is Publix, but analysts see this move by Lucky’s as a way to take on some of that market share.
Jim Hertel, Senior Vice President of Long Grove, IL-based food retail consultant, Willard Bishop, told the Cincinnati Business Courier, “With Lucky’s, they’re exploring more niche audiences. Going from three stores to ten, they must have some confidence in how well Lucky’s can do there. It’s more than just testing the brand.”
Lucky’s, which only currently has 17 stores in 13 Midwestern and Southeastern states, plans its Florida stores for markets like Orlando, Melbourne, Neptune Beach, and Plantation, among other markets. The company currently operates stores in Naples, Gainesville, and Coral Springs, FL.
AndNowUKnow will continue to cover the increasing competition in the Florida retail market, so stay tuned for more.
