News
Colombia: Femsa lays the groundwork for Oxxo store in Medellin
March 24, 2010
Publication: Esmerk - News monitoring
Provider: Esmerk
La Republica (Colombia), 24 Mar 2010, online:- Mexican drinks company Femsa and its retail division Femsa Comercio, which operates the Oxxo chain of convenience stores, is planning
to open between 20-30 mini-markets in Colombia in the medium term. Femsa has carried out the market research for this store format in Medellin and the company already operates five
Oxxo outlets in Bogota. Femsa will consolidate its position in the capital before expanding to Medellin (planned for the third quarter of 2010) or other coastal cities or Cali. Investments for
each Oxxo store are approximately USD 1.50mn (EUR 1.11mn), signifying that company investments could reach USD 45mn over the next few years. After Colombia, Femsa has set its
sights on developing Oxxo stores in Argentina, Brazil and Ecuador, amongst other countries. Oxxo will compete with Grupo Exito's new Almacenes Ley convenience store in Medellin. ©
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