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Mar 27, 2024 – 9:18 am
As reported by Falabella, the reason for the closure of Linio in Mexico—a trading platform that it bought in 2018 for $138 million— It has to do with changing the focus of your investmentsForbes explained.
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Through a statement, the company indicated that, Starting next April 8, it will turn off the ‘e-commerce’ site in that country to advance a “comprehensive Falabella optimization plan,” which involves the constant evaluation of its businesses.
The objective of this move, the document adds, is to “improve operational efficiency, strengthen the value proposition towards customers and enhance the financial sustainability of the business.” this without affecting Linio’s operation in other countries.
“Organizational changes are part of our learning and evolution process, to always offer the best value proposition to our clients. We are continually adapting to advance our long-term strategy in the different markets,” said Benoit De Grave, Falabella transformation manager, quoted by the aforementioned magazine.
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The Chilean multinational specified that the closure of Linio in turn implies the additional boost to other businesses it has in Latin Americalike Sodimac.
“The company will continue to focus on the growth of Sodimac and the Falabella Soriana card,” explains the holding company’s statement.
Finally, Forbes noted that Falabella has an ambitious growth plan with Sodimac. This year, The goal of opening two stores in Monterrey and Guadalajara was setto reach a total of 13 in Mexico.
Read all the economic news today here.
