Friday, June 9, 2023

The unicorn that grew around the world lasted only one semester in Rosario. biz point

He invested US$350,000 in infrastructure to open a physical store but changed his strategy. It will continue to work 100% online.

Less than a year after landing, mexican poplar he left the place he was in rosario, The startup closed last week the commercial office it had set up to buy and sell used cars Upper Floor of the Cinepolis Complex (East Village Rosario) You Virtually the city will continue to operate, as a confirmation biz pointThe decision relates to a change in the company’s strategy of concentrating physical stores in Buenos Aires and moving to a 100% online system in the rest of the country.

Unicorn Kavac late last year invested US$350,000 in infrastructure to open the brand’s first commercial office and reconditioning center in the interior of the country., However, and despite Rosario and hopes of continuing to expand in the region, the startup, which is dedicated to the buying and selling of used or pre-owned cars, recalculated its strategy in Argentina and expanded its base in the city. Economic uncertainty and an explosive dollar that affected concessionaires’ operations are factors that undoubtedly could have weighed on the decision. However, business sources told this medium that poplar Rosario will strengthen its online presence and continue to provide its customers with after-sales service and personal attention.

The change of direction since the Rosario-based company as a major point of its expansion in the country took the sector by surprise. It also anticipated the new opening of exhibition offices in various strategic points of the city. Now Mexican will try to shore up its physical store in the metropolitan area of ​​Buenos Aires (Amba) and start working with a digital buy and sell format in Rosario. This will be a “pilot test” of a system they will try to take to other locations in the rest of the country.

As of last week Kavac had a system of about 300 cars on the third floor of the former Village complex (today Cinepolis), where Rosario could view vehicles, evaluate various financing options, and buy or sell at the time. Though the entire operation could be done online, the vehicles were available in the showrooms for testing and clearance. In the Cinépolis’ covered parking lot, the Kavac had room to double the capacity of the cars on display, but the company’s rapid exit put an end to the plans outlined in the previous one.

Last year was a take-off for Kavac, which grew 10 times and managed to consolidate five showrooms City of Buenos Aires and Province of Buenos Aires. In parallel with Rosario’s departure, regional expansion plans in Latin America do not take off and Unicorn Kavac will begin operations in Chile, Colombia and Peru with an investment of US$120 million. It also targets Turkey, another important emerging market.

Used car sales is one of the businesses that has changed the most with the pandemic. The online market for second hand vehicles is undergoing great activity and development in Argentina. Kavac is one of the main players in the business – it has just added as an investor Manu Ginobili- And it works by buying used cars from individuals and repairing them to sell them later.

Nation World News Desk
Nation World News Desk
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