In the last weeks, The Olympic stores have been the center of rumors due to an alleged financial crisis which has resulted in the closure of several of its establishments in the city of Barranquilla.
So far in 2024, this is the fourth store that the supermarket chain closes in the city of Barranquilla under the current administration.
Does Olímpica want to imitate Ara and D1 stores?
According to local media reports, The iconic Char family business has laid off approximately 300 employees with less senioritybetween four and ten years of service.
Apparently, the layoffs were managed through job boards. On May 18, the company Gestica SA summoned several employees to its offices to inform them that they would be terminating their services and requested that they sign the letter terminating the corresponding contract.
In addition to that, it was also reported that between May 13 and 17, more than 100 employees who had been hired through the Eficacia employment exchange were fired.
However, these changes do not seem to be motivated by a financial crisis. Everything points to a restructuring of the Olímpica store business where they are looking to implement significant modifications to adapt to current market demands.
Apparently, Olímpica is considering adopting a model similar to that of stores such as Ara and D1. This is part of its strategy to adapt to the new forms of customer service and market management that are emerging in the commercial sector.
An example of this implementation is the multifunctionality model that the supermarket chain is introducing for its employees.
In this system, workers must perform multiple roles simultaneously; That is, the cashier is also in charge of logistical and cleaning tasks. This approach is similar to that taken by budget stores such as Ara and D1.
In this transformation process, they have incorporated Fernando González Somoza, a Spanish executive with experience in D1 stores and other chains, to lead these strategic changes.
Olímpica is one of the supermarkets with the greatest coverage in Colombia, with more than 400 stores distributed in 118 municipalities and 21 departments. Furthermore, it stands out for its high turnover; According to Supersociedades, Olímpica Superstores and Drugstores generated income of approximately $7.7 billion in 2022.
Read more: Closure of the Olímpica warehouse fell badly on the powerful Char family.
