For many years, Venezuela was the second most important commercial ally for Colombia. The peak between binational trade came in 2008, when it reached more than US$7 billion. But little by little the commercial dynamics diminished from the peak reached, due to the economic and social crisis that forced more than eight million Venezuelans to leave their country.
The reopening allowed this commercial dynamic to improve in the last two years, to the point that the Colombian Venezuelan Chamber hopes that the binational trade leave US$1,000 million at the end of 2024. In January alone, this aspect reached US$62 million, growing 32% compared to the same month in 2023.
Even so, in the last two decades different companies with Venezuelan capital have consolidated in the Colombian market, which you have surely seen, because they have thousands of consolidated clients, as is the case of Locatel, Farmatodo, Congrupo and Prosein.
It is no coincidence that these types of companies have established themselves in the Colombian market. In fact, if the most consolidated sectors are reviewed from the perspective of imports from Venezuela, they are led by basic industry (64%), followed by machinery and equipment (12%), the energy mining sector (10%), light industry (7%), agriculture (4%) and agroindustry (3% ).
A pharmacy leader
According to Juan Gabriel Pérez, president of the Colombian-Venezuelan Chamber, approximately 100 companies from the neighboring nation are investing in the country. “The three most recognized are Grupo Polar, Farmatodo and Locatel. The case of Farmatodo is one of the most relevant since they currently have 109 points throughout the country and in Venezuela there are 192.”
The company explained that, “in 2008, leveraged on its vision of being the leading pharmacy chain in Latin America, Farmatodo arrived in Colombia with a favorable macroeconomic environment. The first pharmacy was Britalia Norte, located in Bogotá, beginning the expansion project until today, with which it has positioned itself by providing a service with excellence and innovation for users.”
Farmatodo Colombia plans to close the fiscal year, which covers the period between August 2023 and July 2024, with 115 stores in the market, “Contemplating the arrival of new departments with their respective capital cities, among which are Quindío, Risaralda and Caldas,” the company said.
Locatel’s positioning
Another of the companies of Venezuelan origin that entered the country in the last two decades is Locatel, which arrived with the vision of taking care of the health of Colombians. It entered the domestic market when trade between both countries had the best dynamics in history. In 2005, it arrived as a health supermarket, and two stores were opened in Bogotá. The following year he opened his first franchise, also located in the capital.
“Colombia for Locatel is a very important place, taking into account that approach and that vision of family and health care, for each of the Colombians. “We feel that we came to provide a service that had a lot of room and could have a lot of acceptance,” said Eurice Troya, general manager of Locatel.
Locatel currently has 20 physical points in the local market. “We are mainly in Bogotá, Cartagena and in Medellín, which is our new place where we are doing our entire growth plan. We also have our non-face-to-face channel store, which is our website, a super successful store with very important levels of visits and sales for the group, as well as two ‘dark stores’ in Bogotá,” said the director.
Congrupo imports
Surely you have consumed some of the products that Congrupo, a company purchased in 2006 by Venezuelan investors, imports to Colombia. Not only do they carry different products such as Hershey’s, Act II, Flips or Mentos, but they have a presence in more than 21 cities.
“Our direct distribution network and through allies allows us to serve more than 1,500 direct clients and more than 20,000 indirect clients in Colombia. In addition, we export our most relevant portfolio to more than 10 markets, achieving a presence in most countries in the region,” the company says on its website.
This company develops and markets mass consumption products, and aims to be profitable and sustainable over time. In their vision they want “to be recognized as the best manufacturing and marketing company for high-value brands “being the favorite option for our consumers, clients and principals in the Colombian and international market.”
The impact of Prosein
The Venezuelan company Prosein arrived in the Colombian market in 2011, opening its first store in La Floresta, in the capital. This is an expert marketer in finishes for construction and remodeling, with a history of almost 40 years, in markets such as Colombia, Venezuela and the United States. which allows it to have more than 83 physical stores. “We work with leading factories in the production of materials, bringing the best standards to the Colombian market,” says the company.
