Mexico City.- With a business model based on selling merchandise that does not exceed a dollar in price, the Waldo’s chain announced that it will invest 2 billion pesos to continue expanding its stores that today total 800 units in the country.
Luis Massieu, Waldo’s Finance Vice President, said at a press conference that the company is preparing this additional investment to open another 200 stores in the coming years, and reach 1,000 units.
“After a 45 percent growth in the last three years, we are currently opening two stores a week. Right now we have 20 under construction,” he said.
The executive pointed out that the growth rate could accelerate even more in the coming years, given that only in the Mexican market is there room for Waldo’s to operate up to 5,000 stores, due to the fact that there are no competitors.
“We import our products from more than 20 countries. We seek that they have value, that they are innovative for the customer and that their price is the lowest in the market. There is no other store like Waldo’s, said Ernesto Llano, commercial vice president of the firm .
The directors of the chain revealed that there is also the intention that Waldo’s reach other markets in Latin America but also the United States.
“For now we are about to start studies to (reach the market of) Central America,” said Waldo’s Finance Vice President.
