Grupo Soma rethink its presence in shopping centres

The CEO plans to keep larger stores in fewer ventures and says the sector needs to revise the model.

03/31/2021

Grupo Soma, the owner of ten brands such as Animale, Farm, Cris Barros and Maria Filó, works on some fronts with an immediate effect in the short term to mitigate the worsening economic impact environment. In negotiations to review store lease agreements, the company evaluates leaving smaller shopping centres and plans to acquire a brand with products with prices below the company's average.

The retailer questions the strategy of maintaining operations in non-strategic and high-cost projects per square meter - more than 80% of its 270 stores are in shopping centres- and criticises some companies' positioning in the area.

Source: Valor Econômico

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