Not really copycat branding.
Parkside is Lidl own brand for most of the tools they sell, the bike tools are just a small subset of those. And no, of course nobody is going to be fooled about the quality.
Parkside is a German firm, part of the Einhell group I believe, and not a Lidl's own brand as such. On mainland Europe, and Germany in particular, Parkside gear is available all over the place and not just in Lidl.
Einhell is a more up market offering, Parkside more a value workaday choice.
In my limited experience some Parkside stuff is very good, some a bit meh, but very little is actually bad.