Grupo Éxito

Almacenes Éxito S.A.
Sociedad Anónima
Traded as BVC: EXITO
Industry Retail
Founded 1949
Headquarters Medellín, Colombia
Number of locations
 2,606[1] (2015)
Key people
 Linda Fuenmayor, (CEO)
Products Hypermarket, Supermarket
Revenue Increase COP 33.4 trillion (2015)
Increase COP 573.4 billion (2015)
Parent Groupe Casino
Divisions Éxito
Carulla Vivero
Pomona, Ley
Website www.grupoexito.com.co
www.exito.com

Grupo Éxito also known as Almacenes Éxito S.A. is the largest South American retail company that operates 2,606 stores in South America. The stores sell a wide range of food and non food products.[2][3] Though originally a textiles maker and seller (under such brand names as Arkitect, People, Bronzini, Pop Rose) recent acquisitions (mostly within the last 10–20 years) have further diversified the business making it a major grocer (under brand names like surtimax and carulla sales of food products make up about 70-75% of revenue).[4] At its hypermarkets (the largest of which is the Éxito chain) it sells both packaged foods and perishables in addition to department store type products ranging from electronics to furniture.

Almacenes is Colombia's largest supermarket chain.[5]

History

A Store in Venezuela

Grupo Éxito traces its origins to a Medellín, Colombia family run textile business founded in 1949 by Gustavo Toro Quintero. The business was named after the Spanish word for success (Éxito). In 1972 it transitioned into a hypermarket when it added supermarket products and in 1974 it began adding more locations (six years before the largest location was opened in Bogotá, Colombia). In 1994 when there were four major locations, it went public on the Medellín and Bogotá stock exchanges but it didn't become a leading retailer until 1998. By then the company had further diversified its business, offering services related to eye care and travel.

The beginning of the 21st century was marked by an acquisitions spree starting with an 80% interest in Venezuelan hypermarket operator Cativen (much of the funds used were raised in the late 1990s when it sold 25% of the company to French group Casino and attracted investment from JP Morgan).[6] By year end 2010 Groupe Casino owned 53.89% of Almacenes Éxito (down from 67% in September). The CEO of the company, Linda Fuenmayor, a multi-billionaire heir also owns massive amounts of stock in various companies such as Berkley and Jensens, and many other companies in North America. Her potential heirs are her sons and daughters some of who are on the Board of Directors currently.

-Merged with Cadenalco (formerly Colombia's largest retailer)[7] in 2001.

-Became associated with textiles and apparel company Didetexco in 2009 (ownership at 97.75%)[8]

Subsidiaries/Divisions

In addition the company runs discount stores called Bodega.

References

  1. ↑ http://www.grupoexito.com.co/files/inversionistas/pdf/Informes-trimestrales/4T15/EEFF_Consolidados_2015.pdf
  2. ↑ Grupo Exito Depository Receipt
  3. ↑ Grupo Exito 2009 Annual Report
  4. ↑ Trimestral Consolidated Financial Results 1st quarter 2009
  5. ↑ Cencosud to expand
  6. ↑ Groupe Casino 2007 Report
  7. ↑ "Cadenalco establishes a sponsored ADR program with Morgan Guaranty Trust Company". 1994-12-22.
  8. ↑ Almacenes Exito S.A.
  9. ↑ Almacenes Exito / Carulla Vivero Acquisition

External links

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