The head of Waitrose, Mark Price, has set an ambitious target of tripling the size of the business in the next ten years, according to the Mail on Sunday.

The target will be backed by an annual £300 million of investment which will see the supermarket open 20 stores per year and expand its online offer.

Speaking exclusively to the Mail on Sunday ahead of the opening of its 300th store this week in Helensburgh, near Glasgow, managing director Mark Price said tha the key to his plan’s success would be a strong push into the convenience market.