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The Brazilian fashion giant anticipates that it will arrive with innovative proposals in fashion and at “highly competitive” costs, with an investment of 2.3 million dollars per store.
From Renner 's headquarters in Porto Alegre, the CEO of the company, Fabio Faccio , clarified that the decisions to invest in Argentina do not depend on short-term factors but on a detailed and prudent expansion policy, despite the swings of some local economy.
“ In Brazil we also had devaluations, inflation, hyperinflation. And we got past that,” he said.
“ We started our development experience with a store in Montevideo, Uruguay, and once we know the market, ratified that Uruguayans like our fashion and our proposals, we ended up opening seven stores, including one in Punta del Este,” said Faccio, a connoisseur of the business of clothing marketing, after 20 years of have held positions of responsibility at Lojas Renner as shop manager, regional manager and purchasing director, before assuming as CEO of the company in April 2019 to replace José Gallo.
“ In Argentina, we started before the end of the year with four megaths with an average investment of 2.3 million dollars per store,” Faccio said, noting that entry into the Argentine market will initially generate about 250 new direct jobs, and purchases from local producers.
He said that the mega-stores will be located on Florida Street, and on Santa Fe Avenue, in the center of Buenos Aires, and in Cordoba the shopping centers Paseo del Jockey and Patio Olmos were chosen.
Assisted permanently by several of his main “swords” Paula Piccinini, Director of Investor Relations and New Business, Fabiana Taccola, Director of Operations, Fernanda Fernandes Feijó, General Manager of Style, Henry Costa, Director of Product and Eliza Córdova, in charge of relations with the press, Faccio excused himself from to provide projections on Argentina's turnover and positioning in the next biennium due to strategic issues,” but left clear clues: “We are going to be the first, the best.”
Founded in 1965, Renner was the first corporation in Brazil with 100% of its shares traded on the São Paulo Stock Exchange. In the Brazilian market, where it is a leader, it competes with multinationals Zara and C&A and locals like Riachuelo.
“ We believe in Argentina, regardless of any government. We bet in the long term, on a country with a good population, which we studied long ago and where we see insufficient proposals in the market in which we operate,” said Renner CEO.
Publication Date: 27/08/2019
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