Friday, June 9, 2023

Carrefour: the French company that is selling its assets in Brazil

Founded in 1959 by Marcel Fournier and Denis Defori, The company has become one of the main players in the worldwide retail sector., It is Carrefour who introduced the concept of hypermarket With the opening of its store in Sainte-Geneviève-des-Bois (France) in 1963, under the premises of Buy everything you need for your home in one place,

Later, The company was expanding internationally with its commitment to large physical stores., The first steps were on the European continent, opening stores in Belgium (1969) and Spain (1973). And, exactly two years after that, decided to reach out to Brazil, the main Latin American economy, with an establishment.

It currently has a presence in countries across Africa, Asia and the Dominican Republic, and Adds more than 14 thousand stores and employs about 335,000 people As stated by the company in its 2022 Annual Report. Furthermore, it has established itself as the number one distributor in Europe (its main market) and one of the most important globally.

during Q1 2023 Las Company’s sales increased by 12.3% increased from US$ 21.2 billion to US$ 24 billion. Latin America was the region that registered the highest growth with 26%It is followed by Europe (excluding France) at 8.8% and France (7.1%).

Carrefour Brazil in talks to sell stores and distribution centers for US$260 million

Presence in latin america

The continuous growth in this sector has prompted the firm to strengthen this operation. and he is Its association with the continent goes back even before its formation When Marcel Fournier, Denis Defoury and Jacques Defoury visited the United States to participate in various seminars Bernardo Trujillo, a Colombian marketing expert in the 1950s, was nicknamed the “guru” of the field.,

It was from this journey that the idea of ​​branding retail products was born.

The first hypermarket appeared in São Paulo in 1975 and years later in 1982 it was established in San Isidro, Buenos Aires., Throughout its history, Carrefour was present in Mexico (1994–2005), Chile (1998–2004), and Colombia (1998–2012), but today it remains only in Brazil and Argentina. They have 948 locations in Samba country and 625 in its neighboring country. According to the report for the first quarter of this year.

During 2022, Carrefour to buy Big Group (former Walmart) in Brazil for US$1,450 million, which had 388 commercial premises at that time. The transaction has propelled the retail giant to establish itself as the undisputed leader in the sector, in the company’s words.

To carry out the operation, the company had to sell the premises and convert the rest. To date, Carrefour has converted 82 stores that used to carry the BIG name and plans to complete the transition of the remainder (42) in the second half of this year.

With the purchase of Grupo BIG, Carrefour consolidates as one of the biggest competitors in Brazil.

Operational growth

In the midst of its expansion, the multinational has opted to review its business strategy and focus on its bets.

Last week, he announced Negotiations with real estate company Barzel Properties for the sale of five stores and five distribution centers for US$260 million. The commercial premises will be leased for a period of 20 years (renewable for another five years) at US$2 million per month.

“Considering the opportunities seen in the real estate sector, The group decided to monetize the asset with a focused profile on distribution and logistics, This sale and leaseback operation is in line with Grupo Carrefour Brasil’s strategy Maximize operational and financial efficiency by continuously reviewing your real estate assets”, pointed to the brand.

retail company plans extension of attack Its wholesale subsidiary in the South American giant. It is expected that each will open 20 to 30 stores per year. Carrefour plans to exceed by the end of 2026 470 Commercial Complex The Atlantic is looking into all of its operations in the country.

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with respect to its operation in Argentina The company has over 600 stores through its Express, Market, Maxi, Hiper and Carrefour online points, and Employs more than 17 thousand employees, According to company data, One out of every 2,500 employees in the country works for a multinational French origin.

Last year, Carrefour celebrated 40 years of Tango in the country and opened 20 new stores. 84% increase in gross sales to reach US$3.2 billion in total sales during 2022, despite the economic crisis and rising prices (excluding oil and calender effects)

This year the company will open 10 Maxi Carrefour (wholesale stores) and 30 Carrefour Express (smaller local stores).

Nation World News Desk
Nation World News Desk
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