Adrian Portelli: Australian billionaire opens supermarket in Melbourne to compete with Woolies, Coles
Australian billionaire Adrian Portelli has opened a supermarket, promising to give ‘farmers a chance’ in an attempt to take on the country’s supermarket giants.
Australian billionaire Adrian Portelli has opened a supermarket in Melbourne, promising to give “farmers a chance” in an attempt to take on the country’s supermarket giants.
Portelli’s supermarket, LMCT+, was opened in the western suburb of Deer Park on Tuesday, and claims to stock locally-sourced goods and produce.
Portelli took to social media on the day of the launch, announcing a 10 per cent price match guarantee which he claims will “send shockwaves” through the supermarket industry.
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By continuing you agree to our Terms and Privacy Policy.“I will beat it by 10 per cent if it’s more expensive than Coles and Woolies. . .that’s how confident I am about the prices,” Mr Portelli said.
Reactions were mixed when a 7NEWS crew interviewed the many shoppers who flooded the Deer Park store.
“For a mid-week shop like that, we’re usually spending at least $20 to $25 more,” one shopper said.
Another shopper appeared to dispute Portelli’s claim that prices at LMCT+ are lower than Coles or Woolworths.
“Some of the prices are good, some are very disappointing,” the shopper said.
The supermarket, along with Portelli’s range of LMCT+ petrol stations, is membership-based, setting shoppers back $99 annually to use the store.
Portelli claims neither of his business ventures are making money and that his “main focus” is accruing more members.
“It’s a membership game. I’m on side quests at the moment. . .It’s just a bit of fun for me seeing what we can do, how far we can push it,” he said.
“A lot of a lot of people think there’s a hidden agenda, but I wouldn’t be doing supermarkets if there was a hidden agenda.
“There’s no margins here, so it’s definitely easier to make a quid out there.”
Portelli moved to Dubai from Australia this year, taking ire with with the Albanese Government’s leadership, but denied he was “abandoning” his country.
“Australia is genuinely finished under its current control and leadership in the form of the government and media,” he said.
“I’m on a mission to run the show as well as hold the people running this country accountable for the position we find ourselves in today.”
