Australian billionaire Adrian Portelli has opened a new supermarket in Melbourne, positioning it as a direct challenger to the country's two dominant grocery chains. The LMCT+ supermarket launched on Tuesday in the western suburb of Deer Park, with Portelli promising locally sourced produce and prices he says will undercut both Coles and Woolworths.
The LMCT+ Supermarket Launch and Price Guarantee
On the day of the opening, Portelli took to social media to announce what he called a 10 per cent price match guarantee, declaring he would beat any comparable price at the major supermarkets by that margin. "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," he said.
The store, which sits alongside Portelli's existing network of LMCT+ petrol stations, operates on a membership model. Shoppers pay $99 annually to access both the supermarket and the petrol stations. Portelli has said his primary focus is growing that membership base, acknowledging that neither the supermarket nor the petrol station businesses are currently turning a profit.
"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," Portelli said. He also addressed speculation about his motivations, insisting there was no hidden agenda. "There's no margins here, so it's definitely easier to make a quid out there," he added.
Shopper Reactions: Mixed Verdicts on Opening Day
The Deer Park store attracted a large crowd of shoppers on its opening day, and reactions to the prices and range were decidedly mixed. One shopper suggested the savings were real, noting they typically spend at least $20 to $25 more on a comparable mid-week shop elsewhere.
However, not everyone was convinced. Another shopper challenged Portelli's claims directly, saying: "Some of the prices are good, some are very disappointing." The varied responses suggest the store will need to demonstrate consistent value to build the loyal membership base Portelli says is central to his business model.
Portelli has framed the venture as a way to give "farmers a chance", with the store stocking goods and produce described as locally sourced. This positioning taps into growing public frustration over supermarket pricing practices and the treatment of Australian suppliers, an issue that has attracted significant political and consumer attention in recent years.
Portelli's Broader Agenda: Dubai Move and Political Criticism
The supermarket launch comes as Portelli continues to generate headlines beyond the business world. This year he relocated to Dubai, citing his dissatisfaction with the direction of Australian governance under the current federal government. Despite the move, he rejected suggestions he was abandoning Australia.
"Australia is genuinely finished under its current control and leadership in the form of the government and media," Portelli said, adding that he sees himself as being "on a mission" to hold those in power accountable.
The billionaire's public profile has grown rapidly in recent years through high-profile property acquisitions and his LMCT+ brand, which began with petrol stations and has now extended into grocery retail. Whether his supermarket model, built around memberships rather than conventional retail margins, can sustain a long-term challenge to the established duopoly remains to be seen.
What's Next for LMCT+
With only one store currently open, the LMCT+ supermarket is in its earliest stages as a grocery retailer. Portelli has not publicly detailed plans for additional locations, and for now the Deer Park site serves as a proof-of-concept for his membership-driven approach. If the model gains traction, it could prompt broader questions about alternative retail structures in a market long dominated by two major players.
