Go To Top
Casas Bahia store

 

27th March, 2018

Amazon.com and Casino Guichard Perrachon are negotiating a deal in Brazil either partnering or selling the French retailer’s local appliance and electronics chain, a source familiar with the talks said on Tuesday.

The talks concerning Casino’s Via Varejo chain, which includes one of Brazil’s largest e-commerce operations and more than 900 stores in the country, branded primarily as Casas Bahia and Ponto Frio, would accelerate Amazon’s previously tepid advances into Latin America’s largest market. They come as the e-commerce giant and Casino have struck an agreement to sell groceries from the French group’s upmarket Monoprix through Amazon.

The Brazil deal could be structured as a partnership in that model or as an outright sale of Via Varejo, the source said. News of the talks sent preferred shares in GPA SA, Casino’s Brazilian supermarket chain that owns Via Varejo, up 5 percent to R$67.28 in São Paulo. GPA, Via Varejo and Amazon in Brazil all declined to comment.

GPA had put Via Varejo up for sale two years ago but the company attracted little interest as its then-traditional infrastructure kept costs stubbornly high and dragged on profits. It has since expanded its e-commerce operations. Units of Via Varejo, a blend of preferred and common stock, rose 4.9 percent in early morning trading in São Paulo, to R$30.43.

Amazon has waded slowly into Brazil’s complex and highly competitive online retail market, starting with e-book sales in 2012, adding physical books two years later and offering third-party sales of electronics in October. There have been reports in recent months that the world’s largest online retailer has been preparing to ramp up its Brazilian presence, courting local suppliers of appliances and electronics and eyeing a large warehouse outside of São Paulo.

Source: Reuters

Latest News

  • Casas Bahia store

     

    27th March, 2018

    Amazon.com and Casino Guichard Perrachon are negotiating a deal in Brazil either partnering or selling the French retailer’s local appliance and electronics chain, a source familiar with the talks said on Tuesday.

  • Shopping mall in Brazil

    19th February, 2018

    Economic activity in Brazil expanded at a faster-than-expected pace in December, capping the first annual increase in four years following the deepest recession in decades.

  • Marcio Appel

     

    7th February, 2018

    Marcio Appel, a 45-year-old money manager whose main fund topped 89 percent of its peers in the past year, is betting on Brazil’s benchmark stock index to double over the next 12 months.

  • Embraer Boeing logos

     

    6th February, 2018

    Boeing has presented a plan to Brazil’s government that would give it an 80 to 90 percent stake in a new venture encompassing Embraer’s commercial jet business, a Brazilian newspaper reported on Tuesday.

  • Didi 99

    3rd January, 2018

    A year after buying a minority stake in Brazilian app 99 - owner of the second most used transportation application in the country, behind Uber -, the Chinese company Didi Chuxing, founded and run by businessman Cheng Wei, closed the acquisition of the Brazilian company at a valuation of R$3.25 billion (US$1 billion).

  • Estacao Hack

     

    28th August, 2017

    Facebook Inc on Monday unveiled its first training centre in Latin America for coders and entrepreneurs, encouraging technology careers for young Brazilians saddled with unemployment after a deep economic crisis.

  • EletroBras logo

     

    23rd August, 2017

    Brazil on Monday floated a proposal to cede control of the country's biggest power utility, Eletrobras, in the boldest privatisation yet by a government struggling to close a record budget deficit, sending Eletrobras' shares soaring in after-market trading.

  • AT&T Time Warner merger

     

    22nd August, 2017

    Brazil’s antitrust watchdog Cade said AT&T’s US$85.4 billion deal for Time Warner poses a high risk to competition, a potential complication that threatens to delay the final approval process.

  • Magazine Luiza's Lu

     

    14th August, 2017

    Lu’s not like other girls on Tinder. For starters, she’s an avatar. The digital saleswoman popped up on the dating app last June, offering coupons as part of Brazilian retailer Magazine Luiza SA’s strategy to boost e-commerce. She’s been surprisingly effective, lifting the company’s online sales by almost five times the pace of the overall market in the first half of the year and helping make Magazine Luiza the world’s best-performing major retail stock.

  • Embraer E175-2 Skywest

     

    28th July, 2017

    Embraer SA returned to profit in the second quarter as the Brazilian aircraft manufacturer ramped up deliveries of narrow body E-Jets to airlines and brought down operating costs through job cuts and controls on corporate expenses.