Avenida stores enter the São Paulo market – 07/24/2023 – Market

Lojas Avenida, popular among the C and D classes in the Midwest of the country, will open its first unit in São Paulo next week. The inauguration of the clothing and home products retailer will be in Carapicuíba, in the metropolitan region of SP, on August 4th.

The debut in the São Paulo market takes place in a context of greater competition between national and international retail. As of August, international purchases of up to US$ 50 will have new rules, with the right to federal tax exemption. This tends to favor foreign companies that have a strong presence in the fashion market, such as Shein.

Earlier this year, Avenida announced that, in June, it would close its ecommerce operations, directing efforts to its physical stores.

The company’s expectation is to open more than 30 units between July and December 2023, surpassing the mark of 160 stores. Founded in 1978, in Cuiabá, by businessman Ailton Caseli, the group is headquartered in the capital of Mato Grosso.

The company has been controlled by the South African fashion and furniture retailer Pepkor since 2022, when the 110 Avenida stores and 20 Giovanna Calçados were acquired for US$ 208 million (or R$ 1.1 billion). The foreign holding company bought, at the time, a stake in 87% of the Brazilian company’s shares, which is booming.

Other openings are planned: in the Federal District and in the city of Salvador, which will have three stores in September. With the arrival in SP, the retailer will have units in 12 states.