Femsa, the Mexican company, is to introduce its Oxxo convenience-store format to Colombia as well as other South American countries. In Mexico, Oxxo stores now represent 29% of Femsa sales. The company's Colombian operations are limited thus far to Coca-Cola production and bottling.
Javier Astaburuaga, director of finance at the group, says that Oxxo stores will not open immediately in Colombia but that they shouldn't take too long (i.e. before 2009). In 2007, Oxxo opened 716 stores to reach a total of 5,563. Late last year, Femsa gave out the Oxxo license for Colombia to the owner of a store in Ciudad Salitre, Bogota, for three years but the license only relates to the brand not the format or the concept. Femsa's gross Colombian margin rose from 44.8% in the final quarter of 2006 to 51.2% in the last three months of 2007.
Publication: SABI - Business News
Provider: South American Business Information
Date: February 27, 2008
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