Brazil’s largest retail association ABRAS, which hosts 1,200 grocery retailers managing 90,000 stores, wants to create a common digital marketplace. Out of 1,200 members, around 100 have declared an interest in joining the platform.
They will be able to sell products on the marketplace and will have access to common services such as logistics and financial services. This project has already been presented to investors: according to initial analyses, the value of the future company is estimated at €1.5 billion and German Quiroga is already a strategic investor. As the Founder of Americanas and Cnova and on multiple boards of retail companies, he will join the ABRAS project as a minority partner. FMCG brands such as Ambev, Coca-Cola, Heineken, JBS and BRF are also likely to join as partners in a second stage, with access to the data generated by each brand on the marketplace.
For ABRAS, this program is part of a wider project that aims to create other joint ventures in the financial services, property, innovation and training. This includes the creation (or acquisition) of a joint bank and the creation of a property fund that will be overseen by an asset management company. According to Valor International, these initiatives have been
approved by ABRAS members and are awaiting the green light from top management. The details of the scheme (governance, funding arrangements) are to be announced at the convention in September 2022.
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