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The COVID-19 took its toll and the strategy will have to wait a while longer.
This is reported by the newspaper El Financiero this Monday, which ensures that Justo & Bueno could not land his business in Chile due to the pandemic. “The company is negotiating to enter Erbi’s property, in a process that is kept under strict reserve,” explains this economic means.
According to the information, the plan the Colombian company has is to assume control of Erbi, which has 32 stores in the Metropolitan and Vaparaiso regions, two of the main ones in that South American country.
The great drawback of the low cost business is that it expects to make a loan to carry out its expansion to Chile, something that will not occur in the short term due to the pandemic.
Upon his arrival in Chile, Michel Olmi, CEO of Reve Group, owner of Justo & Bueno, said several months ago that this is due to the injection of capital he received from a private fund in Australia for $ 18.4 million.
“The bet in the medium term is to become the largest low-cost chain in Latin America,” Olmi told El Tiempo, explaining that they also want to achieve business consolidation in Colombia and Panama.
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